Barstool’s Dave Portnoy Planning a Bitcoin Comeback – Under One Condition

Published by andrewpbreen@gmail.com on

Day trader and Barstool Sports founder Dave Portnoy is once more considering a Bitcoin investment.

Portnoy is taking to Twitter to share his revised stance on BTC and express grief over selling the asset at $11,000.

Last year, Portnoy sold his Bitcoin and Chainlink (LINK) holdings for a loss of $20,000, and now says he would consider re-investing in the king coin – but he’s holding out in hopes that the price decreases significantly from its current levels at around $59,000.

“Obviously, I wish I didn’t sell at $11,000. It’s 6X the price. Duh, I happen to be a real idiot to say that… But I need a significant dip and maybe I miss it, maybe I sit on the sidelines and Parabolic Guy [Morgan Creek Digital co-founder Jason Williams] in his 13 Ferraris are driving circles around me, maybe that’s it. I need a price I can stomach to get back in.”

Portnoy says he doesn’t think he exited his Bitcoin position last year because he possesses ‘paper hands’ (low risk appetite), but due to cluelessness on his part.

“I don’t know if you can say I got paper hands in Bitcoin, ‘cause I didn’t know what the f*** I was doing in Bitcoin.”

The day trader in part blames Gemini co-founders and Bitcoin bulls Cameron and Tyler Winklevoss, who he held a discussion with in The Hamptons prior to investing in cryptocurrencies last year, for their description of the benefits of investing in the number one cryptocurrency.

Among other things, the discussion touched on the possibility that large quantities of gold could one day be mined on asteroids, diluting the supply of the precious metal.

“The Winklevo, I like them. But their explanation of what Bitcoin was to me in The Hamptons, that Elon Musk was going to fly to outer space and mine gold and that it was going to rain down plenty of gold… That was a very unfortunate meeting for me.”

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