Dave Portnoy: "I am very angry with myself for selling Bitcoins"

Dave Portnoy watches BTC rise above $52,000 and reproaches himself: if he had kept all the coins, investments would have increased by about 75%, and profits would have reached $750,000.

"Barstool was supposed to own bitcoins. At the moment when I returned the company, I needed to buy $10 million worth of bitcoins. I'm so angry with myself. I will never be able to survive what I did with bitcoins, it's a complete fiasco," the trader is indignant.

Last February, the Tailor-owned Barstool Sports was sold to Penn Entertainment. However, in August, Portnoy announced that Penn Entertainment had terminated its contract with Barstool Sports and returned ownership of the company to him.

The chairman of Microstrategy, Michael Saylor, replied to the Tailor on the social network X: they say, everyone knows the rules: you need to buy bitcoin and not sell it. Portnoy explained in a comment that he was not going to sell bitcoins, but simply did not want to lose when the FTX crypto exchange collapsed. The businessman-trader only checked whether the exchange where he traded was liquid and forgot to switch back.

In August 2020, the founder of Barstool met with the founders of the Gemini crypto exchange, the Winklevoss twin brothers, and then purchased bitcoins for the first time. Portnoy later sold his bitcoins, but returned to the market in February 2022, buying 29 BTC for about $1 million.

In 2021, Dave Portnoy admitted that he was initially skeptical about bitcoin, but over time, confidence in this cryptocurrency has significantly strengthened.

Source: https://bits.media/deyv-portnoy-ya-silno-zol-na-sebya-za-prodazhu-bitkoinov/