Dave Portnoy Millions of Dollars in the Red on Bitcoin: “I Won’t Sell Even if It Hits Zero”

Barstool Sports founder Dave Portnoy has announced that he will no longer sell his assets even if they hit zero, due to his repeated poor timing in Bitcoin (BTC) investments.

Famous businessman Dave Portnoy announced that he has taken a radical decision against the sharp fluctuations in the cryptocurrency market. Frequently making headlines for his past erroneous moves, Portnoy stated that this time he will not liquidate his holdings regardless of how low the Bitcoin (BTC) price drops. Sincerely admitting his misfortunes with market timing, Portnoy seems determined to go down with the ship this time if it sinks.

During a television program he attended, Portnoy made striking statements about his Bitcoin (BTC) investments. Stating that he purchased the asset at the $100,000 level and is currently down millions of dollars, the famous figure summarized his ironic situation by saying, “I know that if I sell, the price will take off again.” According to data, the leading cryptocurrency peaked at over $126,000 in October of last year but later receded to the $63,000 levels.

Portnoy’s Bitcoin Strategy and Market Timing

Drawing attention to the mistake many investors make, Portnoy is personally experiencing the frustration caused by buying when prices rise and selling when they fall. Emphasizing the difficulty of attempting market timing, Portnoy has turned to a long-term holding strategy to escape this vicious cycle. This determined stance in the crypto world serves as an important lesson for individual investors.

Speaking on stage at the Consensus 2025 event, Portnoy also shared his views on the future of cryptocurrencies. Meeting with key figures in the industry, the famous figure touched upon the meme coin craze in particular. Portnoy expressed that the ecosystem formed by such assets is not sustainable in the long term and that the activity in this area lacks a permanent foundation.