‘Every time I buy it, it crashes’: Dave Portnoy says he’s losing millions as Bitcoin plummets

Founder and media personality of Barstool Sports, Dave Portnoy, knows that he is no expert in cryptocurrency trading, but that has never stopped him from trying again and again for several years now.

Portnoy said this week Fox Business Host Stuart Varney He lost millions of dollars in Bitcoin, the highest cryptocurrency asset by market cap, as it fell more than 50% from its all-time high in October of $126,080 to a recent price of $62,162.

“Yes, I have regrets,” Portnoy told Varney about his experience trading cryptocurrencies. “I bought this thing for $100,000, so I mean now I don’t know what’s going on.”

Portnoy gave an honest assessment of his storied history in cryptocurrency trading, which includes moments Where he “used paper,” Or he sold his Bitcoin out of panic in 2021 after the price dropped.

“There’s nothing I’ve done more wrong than Bitcoin,” he told Varney. “Every time I sell it, it goes nuclear. Every time I buy it, it’s destroyed.”

Despite the ongoing downward movement of Bitcoin and other major crypto assets in recent months, Portnoy said this time around he is sticking to his guns.

“I’m just holding. I’ll keep this thing down to $0,” he said. “I know if I sell it, it will go nuclear again.”

“I’d rather go down with the ship this time,” Portnoy added.

Portnoy’s crypto history extends far beyond Bitcoin, previously Support controversial meme currencies like SafeMoon (SFM) while also declaring himself a Proud member of the Marine Corpsa community of investors who support LINK, the native token of the Oracle Network Chain link.

Last year, Portnoy delved into Solana’s memes, Trade often in the trenches Along with other risky traders. after He packed up his wallet and earned criticism for allegedly “pumping and dumping” Mimi Coins, Portnoy I hugged the prison bencha meme currency promoted with images depicting his face behind bars.

“Hey crypto bros, I think whoever made this coin is a funny guy and I want to collect it as a memory for you bitches who cry like little babies,” he said.

The token has risen to a market capitalization of over $210 million and has been listed on the central exchange Kraken. But as of Friday, the token is down more than 99.5% and is trading just above its $1 million market cap.