Barstool's Portnoy plans to hold bitcoin down to zero after timing it wrong every time

Markets Barstool's Portnoy plans to hold bitcoin down to zero after timing it wrong every time Barstool Sports founder Dave Portnoy said he will hold bitcoin all the way down to zero after buying near $100,000. By Omkar Godbole Jul 5, 2026, 6:00 a.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Portnoy plans to hold BTC all the way down to $0. Summary Show Barstool Sports founder Dave Portnoy said he will hold bitcoin all the way down to zero after buying near $100,000. Every time I sell it, it goes nuclear. Every time I buy it, it tanks, he said, explaining the classic timing issue. Barstool Sports founder Dave Portnoy said this week that he will hold his bitcoin BTC $ 62,720.58 all the way down to zero if necessary, while admitting his struggle with timing the market. "I'm holding. I'll hold this thing down to zero," Portnoy told FOX Business' Stuart Varney on Varney & Co. "I know if I sell it, it's going to go nuclear again. I'd rather go down with the ship this time." Portnoy said he snapped up bitcoin at $100,000 and is now sitting on millions of losses. BTC peaked above $126,000 in October last year, and has since halved to $63,000, CoinDesk data show. "Yeah, I got regrets. I bought the thing at $100,000. There's nothing I've been wrong about more than Bitcoin. Every time I sell it, it goes nuclear. Every time I buy it, it tanks," Portnoy noted. His exact BTC holdings are not publicly known. Portnoy's comments underscore a familiar struggle of most market participants in volatile markets: The persistent difficulty of precise entry and exit timing. Scores of traders often sell before rallies and buy before corrections, trapping themselves on the wrong side of the market and watching what could have been long-term gains turn into repeated frustration. Whether his new found holding strategy aligns him with BTC's trajectory over coming cycles remains to be seen, but his candor highlights a lesson many retail investors learn the hard way: The best move is simply to stop trying to time the market and hold on. Separately, speaking from stage at Consensus 2025, Portnoy said the memecoin scene is ultimately unsustainable. Bitcoin News Related Assets Bitcoin $ 62,720.58 0.50 % Latest Crypto News 1 Tokenization's next use case is personalized portfolios, NYLIM executive says 10 hours ago 2 Bitcoin jumps above $63,000, reversing end-June losses 11 hours ago 3 Bitcoin experts split over plan to freeze Satoshi's 1.1 million bitcoin as quantum threat grows 12 hours ago 4 How ethical hackers with just a $3,000 server found a flaw that could've put $70 billion in crypto at risk 12 hours ago 5 Why bitcoin's disconnect from record-high stocks won't last 14 hours ago 6 Trump's crypto token buyers are down $3.8 billion, blockchain data shows 14 hours ago 7 Europe led on crypto regulation. Now implementation must match ambition 16 hours ago 8 EU moves to block retail investors from explosive boom of multibillion-dollar prediction markets 16 hours ago 9 UK's bold new crypto rules promise to unlock global trading, but huge compliance hurdles still threaten the rollout 18 hours ago 10 XRP climbs 8% as record holder losses signal better risk-reward for buyers 22 hours ago Latest Research Building the Zcash Machine: Tachyon and Quantum Readiness Building the Zcash Machine: Tachyon and Quantum Readiness Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. By CoinDesk Research Jun 30, 2026 Commissioned by GenZcash Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. Why it matters : Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. View Full Report More From Markets Bitcoin jumps above $63,000, reversing end-June losses Why bitcoin's disconnect from record-high stocks won't last XRP climbs 8% as record holder losses signal better risk-reward for buyers More From Bitcoin Tokenization's next use case is personalized portfolios, NYLIM executive says Bitcoin jumps above $63,000, reversing end-June losses Bitcoin experts split over plan to freeze Satoshi's 1.1 million bitcoin as quantum threat grows