Dave Portnoy talked a strong crypto game right up until it cost him money. After recently entering
the crypto space, Barstool Sports founder turned stock trader, Dave
Portnoy, seems as though he is not quite ready for Bitcoin (BTC) trading yet.
"I'm getting killed right now in Bitcoin," Portnoy said in an Aug. 21 video
posted on Twitter. "It took me months to figure out the stock market, I
admit that," he said. "I went in, I lost money — that's what's
happening in Bitcoin," he added, noting his unwillingness to mess around
with the asset to figure it out, stating a lack of available time.
Portnoy
also went on to call Chainlink (LINK) advocates, also known as Link
Marines, frauds. "Everyone is just selling it," he said, noting the
community's perceived shilling of the asset. "I haven't dumped
anything," Portnoy said. "I tried to pump — everything's getting
dumped," he added.
"I don't need this, I know how the
stock market works. I own the stock market. This Bitcoin — I don't trust
this market at all. I may be out of it by the end of today, and never
come back. If Bitcoin people want to keep my money, you better get
Bitcoin up today, or else I'm f****** out."
Later in the day on Aug. 21, Portnoy tweeted
his exit from BTC, taking a $25,000 loss on the trade. A number of
crypto space participants showed up to comment on Portnoy's Bitcoin
departure, some of which bashed the internet personality for his inability to remain strong during falling asset prices.
also known as Davey Day Trader for his stock trading antics, has
previously expressed his lack of knowledge on crypto. He hosted Gemini crypto exchange founders
Tyler and Cameron Winklevoss at his house on Aug. 13 for some industry
education. Portnoy discussed LINK and a bevy of other topics with the
Winklevoss twins, statedly allocating $250,000 for crypto trading.
Only a few days later, the Barstool founder found himself deep in the crypto game, romanticizing pump and dumps. By Aug. 18, he boasted $98,000 of profit from BTC, calling himself the king of Bitcoin while projecting millions in gains over the coming months.
source link:https://cointelegraph.com/news/barstool-sports-founder-unprepared-for-bitcoin-exits-after-25k-loss
