Dave Portnoy, founder as well as chief executive officer of sports as well as popular culture blog site Barstool Sports, purchased 29.5 bitcoins for $1.1 million on Friday, returning to a market he when claimed he did not “trust.”
“F***ed around and bought 29 bitcoins today,” the securities market investor revealed on Twitter. Portnoy invested $36,924 for every bitcoin (BTC), on the standard. He made use of bitcoin’s 40% decrease from its Nov.10 all-time-high of $69,000 to dive back right into the marketplace.
Many in the cryptocurrency market invited Portnoy back right into bitcoin, with MicroStrategy president Michael Saylor leading the pack of those that did so, tweeting: “Welcome back to Team Bitcoin.”
Portnoy’s love-hate partnership with bitcoin
The 44-year-old American blog owner has actually had a love-hate partnership with BTC. In August 2020, Portnoy claimed he did not “trust this [bitcoin] market at all” after he shed $25,000 as well as intimidated “never [to] come back.”
He had actually previously invested around $1 million on bitcoin as well as Chainlink (WEB LINK), when BTC traded at $11,500. But when costs started to drop some 2 weeks later on, Portnoy worried as well as marketed all his bitcoin muddle-headed of $25,000.
“I’m never buying bitcoin. Never. Never-never. I don’t believe a thing about it,” he declared in a video clip last February. “But I do think it’s profitable. I think with enough steam, that it may just continue to go up forever, but I don’t buy the underlying junk behind it.”
Portnoy shows up to have actually returned to the marketplace eventually in between April as well as May 2021, as he took a pot-shot at Elon Musk, implicating the Tesla CHIEF EXECUTIVE OFFICER of “flip-flopping about bitcoin.” He had actually simply marketed all his Dogecoin (DOGE) as well as purchased one bitcoin at $48,000 after Tesla claimed it was buying BTC.
Portnoy additionally placed $40,000 right into Safemoon. That financial investment is currently worth under $4,000 at existing market value.
What do you consider this topic? Write to us as well as inform us!
Disclaimer
All the details consisted of on our site is released in excellent belief as well as for basic details functions just. Any activity the viewers takes upon the details located on our site is purely at their very own danger.
