- Returning to Bitcoin, Dave Portnoy purchased 29.5 BTC worth around $1.1M. He says anyone not having Bitcoin in their investment portfolio is a fool.
- In 2020, with the help of the Winklevoss twins, he made the first Bitcoin funding, which sold after being panicked by the dip. The incident was followed by crypto enthusiasts making fun of him.
- Portnoy trusts the analysis of the principal establishments and goes by it. He believes he is going to hold Bitcoin worth millions of dollars one day.
Dave Portnoy purchased 29.5 BTC worth around $1.1M with his return to Bitcoin a few days back. Now, the Barstool Sports activities proprietor, says anyone who still doesn’t have Bitcoin in their investment portfolio, is a fool.
Portnoy went on “Varney & Co.” which airs on the FOX Enterprise Community, to meet Stuart Varney.
Portnoy Believes In Analysis Of The Principal Establishments
In 2020, Portnoy made his first Bitcoin funding with the help of the Winklevoss twins. A small dip triggered Portnoy to sell it all. He was terribly mocked and there were questions raised on his investments. In the interview, he says that he used to be ready for my re-entry level and he did buy it at $36.9K quite impressively.
Portnoy also said that Bitcoin is not going anywhere as it is widely adopted now with traditional institutions backing it. He made the statement when Stuart Varney asked him if he is getting out of Bitcoin as he earlier stated.
Portnoy believes in the principal establishments’ analysis with due diligence and takes his decision on it. He says he is likely going to have Bitcoins worth a Billion {dollars} price.
Funnily enough, Varney points out that Portnoy is not young enough to witness Bitcoin achieving its peak or close to that, during their Bitcoin talk. Portnoy fails to reply. Varney then adds that Bitcoin is not a retailer of worth but a playing chip.
Crypto Experts believe that the worth of Bitcoin depends on the number of people who wish to buy and promote it. In simple words, just like any other market, it depends on demand and supply. Bitcoin’s worth comes from its community.
Portnoy’s Previous Stance On Bitcoin
There were numbers that Portnoy was coping with at the time he first liquidated all of his bitcoin funding. Portnoy later clarified that from his original $1,250,000 funding, he somehow misplaced $20,000, 1.6% of the total funds. Many commenting on the matter said that the quantity shows Portnoy wasn’t ready for the risky Bitcoin market.
After being made fun of, he addressed crypto enthusiasts as “crypto mates” and suggested they invest in the stock market, saying Bitcoin is in mud.
Portnoy purchased Safemoon which made things funnier. He said by no means it is shopping for Bitcoin.
At the time of writing, Bitcoin, the leading cryptocurrency according to the coinmarketcap, stands at USD 41,320.98. It is down by 0.31% in the last 24 hours. Bitcoin price hit an all-time high of $64,863.10 on April 14, 2021.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/03/22/born-again-bitcoiner-dave-portnoy-says-youre-a-fool-for-not-holding-any-btc/