'Every Time I Buy It, It Tanks': Dave Portnoy Says He's Losing Millions as Bitcoin Falls - Decrypt

In brief

Barstool Sports founder Dave Portnoy said he's down millions of dollars on Bitcoin as the top coin falls.

Portnoy admitted he's never gotten anything "more wrong" than the leading cryptocurrency.

In 2021 he famously "paperhanded," or panic sold, some of his Bitcoin after a price drop.

Barstool Sports founder and media personality Dave Portnoy knows he’s not an expert crypto trader—but that’s never stopped him from trying over and over again for several years now.This week, Portnoy told Fox Business host Stuart Varney that he’s down millions on Bitcoin, the top crypto asset by market cap, as it has fallen more than 50% from its October all-time high of $126,080 to a recent price of $62,162.“Yeah, I’ve got regrets,” Portnoy told Varney about his crypto trading experience. “I bought the thing at $100,000, so I mean, right now, I don't know what’s going on.”