Day trader Dave Portnoy admitted that he is an idiot in Bitcoin after the price of cryptocurrencies continues to hit record highs. When the price of Bitcoin was only about $11,000, he sold his Bitcoin in horror and now vowed not to buy this cryptocurrency anymore.
Dave Portnoy (Dave Portnoy) regrettably panic sells Bitcoin for $11,000
American day trader and Barstool Sports blog founder Dave Portnoy admitted Thursday that he is an idiot when it comes to Bitcoin and said he will never buy this cryptocurrency again.
Portnoy bought his first Bitcoin on August 13, 2020. The Winklevoss twins, who was next to him at the time, came to his home and personally led him to complete how The work of buying Bitcoin on its cryptocurrency exchange Gemini. According to data from markets.Bitcoin.com, Portnoy invested $200,000 in BTC that day, when the price of cryptocurrency was about $11,172. Subsequently, he purchased two other cryptocurrencies: Chainlink and Lanch.
However, when the price of some of his cryptocurrencies fell, Portnoy panicked and completely withdrew from the cryptocurrency. He explained at the time: “I chose cryptocurrency because coins don’t always rise. On the other hand, stocks continue to always rise.”
Then on Thursday, the founder of Barstool Sports admitted that he was an idiot of Bitcoin because the price of cryptocurrencies continued to soar and hit a record high. “I’m such an idiot… Bitcoin. At least I know I’m an idiot, okay,” he said:
I know I am a Bitcoin idiot. But I refuse to be the poorest person on the ship. I can’t wipe the deck.
Portnoy declared that he would not let Bitcoin “satisfy [seeing him] Jump down and become the last person on the boat, the poorest person on the boat. “
He roared: “‘Hey, poor fellow, wipe the deck. I throw you a bit of fucking bitcoins and watch me fight for one percent of bitcoins like a mouse, and Winklevoss and the fucking parabolic guys Pomp [Anthony Pompliano] Laughing at me from the fucking upper deck. Well I will take another boat. “
The parabolic guy he mentioned was Jason Williams. “I love [the] Portnoy said that he is “one of my favorite people.” Nevertheless, the founder of Barstool Sports insisted: “I will not wipe his deck.” He further stated that the decision to withdraw from Bitcoin was reasonable ,He said:
And God forbid, if I buy Bitcoin and it crashes, it will force me to hate some people I don’t hate, and I don’t want to be put in that position.
On Wednesday, the price of Bitcoin broke through $51K and Portnoy recorded a video in which he lamented the decision to sell all Bitcoin in August last year. “Bitcoin is the only thing that can’t fail. $51,000. Bitcoin fucking $51,000. It’s 11,000 in August. Jesus Christ.” Then he concluded:
I never buy Bitcoin. no way. Never, never. I don’t know anything about it, but I do think it is profitable, and I think that as long as there is enough momentum, it may continue to rise forever, but I don’t buy the potential garbage behind it.
At the time of writing, the price of BTC reached $56,279 after reaching multiple historical highs this week. Its market value has exceeded $1 trillion. If Portnoy keeps the BTC he bought for approximately $11,000 in August last year, his investment will increase by approximately 412%.
What do you think of Dave Portnoy’s reaction to the rise in Bitcoin prices? Let us know in the comments section below.
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