{"id":38950,"date":"2021-03-15T16:35:51","date_gmt":"2021-03-15T14:35:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38950"},"modified":"2025-08-30T07:11:11","modified_gmt":"2025-08-30T04:11:11","slug":"dave-portnoy-who-sold-bitcoin-below-12000-congratulates-investors-on-a-new-all-time-high","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/dave-portnoy-who-sold-bitcoin-below-12000-congratulates-investors-on-a-new-all-time-high\/","title":{"rendered":"Dave Portnoy, who sold Bitcoin below $12,000, congratulates investors on a new all-time high"},"content":{"rendered":"<p>The founder of Barstool Sports, Dave Portnoy, congratulated Bitcoin investors on reaching a new all-time high. He admitted he was hasty, selling the asset too early.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Emergency Press Conference \u2014 I Fucked Up Bitcoin <a href=\\\"https:\/\/t.co\/wJcRTMn5do\\\">pic.twitter.com\/wJcRTMn5do<\/a><\/p>\n<p>\u2014 Dave Portnoy (@stoolpresidente) <a href=\\\"https:\/\/twitter.com\/stoolpresidente\/status\/1370851997973422088?ref_src=twsrc%5Etfw\\\">March 13, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><br \/>\nIn August 2020, investor <a href=\"https:\/\/u1f987.com\/en\/news\/dave-portnoy-who-invested-more-than-1m-in-bitcoin-exits-crypto-after-market-pullback\">sold<\/a> all bitcoins at about $11,600. He said he lost $25,000 on the market downturn and grew disillusioned with cryptocurrencies.<\/p>\n<div id=\\\"attachment_128027\\\" style=\\\"width: 1156px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-128027\\\" class=\\\"size-full wp-image-128027\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/22-17.png\\\" alt=\\\"Dave Portnoy who sold Bitcoin below $12,000 congratulates investors on new all-time high\\\" width=\\\"1146\\\" height=\\\"538\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/22-17.png 1146w, https:\/\/u1f987.com\/wp-content\/uploads\/22-17-300x141.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/22-17-1024x481.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/22-17-768x361.png 768w\\\" sizes=\\\"auto, (max-width: 1146px) 100vw, 1146px\\\" \/><\/p>\n<p id=\\\"caption-attachment-128027\\\" class=\\\"wp-caption-text\\\">Bitcoin price chart in August 2020. Data: Yahoo Finance.<\/p>\n<\/div>\n<p>Besides Bitcoin, Portnoy also bought Chainlink and Orchid coins and actively promoted them before selling the digital gold. After deciding to divest from cryptocurrencies, he was criticised for buying \\&#8221;shitcoins\\&#8221; and deviating from a HODL strategy.<\/p>\n<p>In replies to Portnoy&#8217;s tweet acknowledging the mistake, supporters of digital assets noted that it&#8217;s never too late to come back. The entrepreneur has not yet disclosed his investment plans.<\/p>\n<p>On March 13, Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-breaks-above-61000\">surpassed the $61,000 mark<\/a>. On March 15, the price <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-to-around-55000\">fell below $55,000<\/a>. At the time of writing, the asset was trading around $56,400.<\/p>\n<p>Earlier, Kraken CEO Jesse Powell stated the <a href=\"https:\/\/u1f987.com\/en\/news\/kraken-ceo-bitcoin-could-reach-1-million-within-10-years\">price of Bitcoin could reach $1 million<\/a> within ten years.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 all the latest news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The founder of Barstool Sports Dave Portnoy congratulated Bitcoin investors on reaching a new all-time high. He admitted he was hasty, selling the asset too early.<\/p>\n","protected":false},"author":1,"featured_media":38951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1762,52],"class_list":["post-38950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-dave-portnoy","tag-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=38950"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38950\/revisions"}],"predecessor-version":[{"id":38952,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38950\/revisions\/38952"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/38951"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=38950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=38950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=38950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}