Barstool Sports founder and president Dave Portnoy criticized.compiler’s political stance, warning that the city’s recent policies were veering in a dangerous direction. He also discussed how he had come to realize that certain progressive politicians were taking an anti‑American approach.
Portnoy revealed that his most recent Bitcoin investment has become a costly lesson in timing. Despite losing a substantial amount, he affirmed that he has no intention of selling the cryptocurrency as its value continues to fluctuate sharply.
Portnoy opened up about his costly Bitcoin investment, explaining why he continues to hold despite significant losses. (Jeff Bottari/Zuffa LLC / Getty Images)
In a recent appearance on FOX Business’s “Varney & Co.,” Porter discussed politics, sports and cryptocurrency. He acknowledged buying Bitcoin near its recent highs and explained why he is committed to maintaining his position through the downturn.
“I bought it at $100,000,” Portnoy said. “I have nothing more regretted than Bitcoin. Whenever I sell it, it jumps. Whenever гект buy it, it plunges.”
While discussing the broader market, former SEC chairman Paul Atkins noted the Trump administration’s pro‑cryptocurrency stance, emphasizing the goal of making the United States a global crypto hub.
Even with mounting losses, Porter maintains that his long‑term perspective keeps him tied to Bitcoin. “I am holding,” he said. “I’ll stay with it until it reaches zero.” He added, “I’m losing millions, but selling now would likely mean missing out on a rebound.” graphic
Porter recounted his initial Bitcoin venture on Anthony Pompliano’s “The Pomp Podcast.” He described purchasing roughly $2 million of Bitcoin when it hovered around $11,000 after a conversation with the Winklevoss twins. He soon sold the tokens, not fully grasping their long‑term strategy. The subsequent surge proved costly, leading him back into the market at much higher prices.
Despite years of tracking cryptocurrency trends, Portnoy said he still struggles to predict market movements. “I don’t know what’s happening with it,” he said when discussing Bitcoin’s potential future. He remains determined to maintain his position, even if the market continues to decline.
These remarks highlight the persistent volatility that characterizes the cryptocurrency market, even for high‑profile investors who have faced a mix of significant gains and steep losses.
