Briefly
- Barstool Sports activities founder Dave Portnoy mentioned he is down thousands and thousands of {dollars} on Bitcoin as the highest coin falls.
- Portnoy admitted he is by no means gotten something “extra mistaken” than the main cryptocurrency.
- In 2021 he famously “paperhanded,” or panic offered, a few of his Bitcoin after a value drop.
Barstool Sports activities founder and media persona Dave Portnoy is aware of he’s not an knowledgeable crypto dealer—however that’s by no means stopped him from making an attempt over and over for a number of years now.
This week, Portnoy informed Fox Enterprise host Stuart Varney that he’s down thousands and thousands on Bitcoin, the highest crypto asset by market cap, because it has fallen greater than 50% from its October all-time excessive of $126,080 to a latest value of $62,162.
“Yeah, I’ve acquired regrets,” Portnoy informed Varney about his crypto buying and selling expertise. “I purchased the factor at $100,000, so I imply, proper now, I do not know what’s happening.”
Bitcoin and crypto are making me unhappy.
— Dave Portnoy (@stoolpresidente) June 4, 2026
Portnoy supplied an sincere evaluation of his storied historical past with crypto buying and selling, which incorporates moments the place he “fucking paperhanded,” or panic-sold his Bitcoin in 2021 after a drop within the value.
“There’s nothing I have been mistaken about greater than Bitcoin,” he informed Varney. “Each time I promote it, it goes nuclear. Each time I purchase it, it tanks.”
Regardless of the constant downward value motion for Bitcoin and different prime crypto property in latest months, Portnoy mentioned this time he’s simply holding his floor.
“I’m simply holding. I’ll simply maintain this factor right down to $0,” he mentioned. “I do know if I promote it, it’s going to go nuclear once more.”
“I’d fairly go down with the ship this time,” Portnoy added.
Portnoy’s crypto historical past extends past Bitcoin, although, beforehand championing controversial meme cash like SafeMoon (SFM) whereas additionally declaring himself a proud member of the Hyperlink Marines, a neighborhood of buyers that assist LINK, the native token of the oracle community Chainlink.
Final 12 months, Portnoy acquired deeper into Solana meme cash, often buying and selling within the trenches alongside different dangerous merchants. After doxxing his pockets and incomes criticism for allegedly “pumping and dumping” meme cash, Portnoy embraced JAILSTOOL, a meme coin promoted with imagery that depicted his face behind bars.
“Hey crypto bros, I believe whoever made this coin is humorous and I need to accumulate it as a reminiscence of you bitches crying like little infants,” he mentioned.
The token surged to a market cap above $210 million and earned an inventory on centralized change Kraken. However as of Friday, the token is down greater than 99.5% and trades simply above a $1 million market cap.
