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Barstool Sports Founder, Who Invested $1,250,000 in Bitcoin, to Exit Crypto Investing


newslogical.com 25 August 2020 10:00, UTC
Reading time: ~3 m

Dave Portnoy, an American celebrity, blogger, and initiator of Barstool Sports, declares he is ready to bow out of the Bitcoin space.

Portnoy lamented on his official Twitter handle, how he put about $1.25 million into cryptocurrencies and lost over 20,000 USD within a short time.

Recall a report which illustrated how Portnoy got baptized into the crypto market, after some few minutes discourse with the Winklevoss’ brothers.

Having been bitten by the crypto bug, the Barstool Sports founder emphasized how he’s been living and breathing in its world (crypto) and he boastfully said, Bitcoin is real and he’d rather have his monies die in crypto.

Recall also, how Dave was seen on the internet addressing himself as infamous Link Marines, and how he intends to pump and dump in the crypto space, other than the traditional market.

It is saddening to note afterward, that Dave now complains bitterly about how he presently sees loss in cryptocurrencies, bemoaning that the funds would have multiplied if he had invested in stock markets, other than digital assets, which he now terms ‘unreal.’

Furthering, the Barstool founder is heard chattering on the Bird social media app how he’d have made a minimum of six figs, should he had put his millions in stocks. Portnoy hates the monies he lost in Bitcoin, already.

However, the Barstool instigator says, he may still pour $500k into BTC and LINK, and then sit back and watch if this decision wouldn’t be the worst he ever made.

It is important to note that Portnoy is still in doubt whether or not to back out of the crypto space; yet, he has another thought on whether to stay back, because of his love for BTC memes.

Dave being an entrepreneur turned crypto trader expresses his hurt, saying, he feels unsafe, due to the fact that the crypto market isn’t favorable to him despite observing all due protocols.

He went on to say maybe he’s just a sacrificial lamb and lines may not seem to fall in places pleasant for him in the crypto market, thus, he’s considering to pull out and rather sit back and study it.

On top of that, Portnoy disclosed that his money is still sitting pretty in the Gemini Crypto space. He’ll abandon it there and watch what’ll become of it in a few space of time.

Portnoy’s Followers Respond

In response to Portnoy’s disposition about crypto, some of his Twitter followers are seen replying to his irritation about Bitcoin.

While some of them feel his pain, others call him a weakling, some advised that he shouldn’t pull out, instead leave the investment with BTC and watch it grow, for the next 15 years or thereabout.

As a matter of fact, a few enlightened the Barstool Sports founder that his recent experience is a rite of passage in the crypto market.


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