Barstool Sports founder Dave Portnoy stated that he has learned enough about cryptocurrencies to believe that Bitcoin (BTC) is permanent.
Portnoy, who made a new interview with Fox Business, gave over a million dollars to the presenter Stuart Varney who made the interview. Bitcoin (BTC) He stated that he had “diamond hands” after the purchase.
“I bought 29 BTC. I’ve been in and out of Bitcoin. Previously, I made a purchase when BTC was around $11,000. I sold it the next day. People on the internet made fun of me for doing this. People even called me “paper hands”.
However, I was again looking for an entry point. You fooled me once, what a shame! This is the second time you’ve fooled both! Now I am ready to embark on a long journey.”
Portnoy in 2020 bitcoin price He made a purchase at the $11,000 level and placed a sell order after a short while, despite making a loss. Since then, Bitcoin has managed to gain over 500%. Of course, Portnoy regrets his decision.
Portnoy announced to his followers last Friday that he had purchased more than 29.5 BTC at $36,924. Portnoy completed the acquisitions at a total cost of less than $1.09 million.
A year ago, the founder of Barstool Sports stated that he stayed away from bitcoin because he did not understand the market. But right now, he has announced that he is fully back and ready.
“Now I understand that Bitcoin is not going anywhere; will stay here! Its adoption is increasing. You see even institutions coming in. The future is here. If it’s not part of your portfolio, I think you’re stupid. Should it be all? Probably not.”
When pressed about the long-term values of Bitcoin by Varney, who believes that the best cryptocurrency is more of a “gambling chip” than a store of value, Portnoy replied:
“But it’s not going anywhere. There are too many great players. I also get some small coins. I have SafeMoon (SFM) as I take a bath in Safemoon. I’m still holding it but Bitcoin is here to stay. At some point, everything becomes valuable.”
At the time of writing, Bitcoin has seen a massive spike of over 10% to $41,429.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.