In Bitcoin information at the moment, Dave Portnoy, founding father of Barstool Sports activities, is sitting on tens of millions in losses after shopping for BTC at $100,000 and he has determined his response is to carry the place all the way in which to zero. Bitcoin is at the moment buying and selling at $61,6000, in keeping with CoinGecko knowledge, roughly -37% under Portnoy’s entry level and about -50% off the cycle peak of $126,000 reached in October 2024.
Showing on FOX Enterprise’ Varney & Co. with host Stuart Varney, Portnoy delivered one of many extra candid confessions retail crypto has seen on this cycle. “I’m holding. I’ll maintain this factor all the way down to zero,” he stated. “I do know if I promote it, it’s going to go nuclear once more. I’d slightly go down with the ship this time.”
Portnoy’s feedback got here as Bitcoin started the week buying and selling at round $61,600, up +1.8% on the day, with the main digital asset persevering with to carry above $60,000, sparking perception {that a} run towards $70,000 is on the way in which in Q3.
Dave Portnoy says Bitcoin is the one commerce he cannot win
He instructed Fox Enterprise he is down tens of millions after shopping for close to $100,000. bitcoin:native has since fallen greater than 50% from its October excessive to round $62,000 now.
“Each time I promote it, it goes nuclear. Each time I purchase it, it… pic.twitter.com/5C5PCoZrGM
— BSCN (@BSCNews) July 3, 2026
EXCLUSIVE: Be a part of 99Bitcoin’s $1000 USDT Airdrop on ByBit
Bitcoin Information As we speak: A Monitor Report Constructed on Unhealthy Timing
Portnoy’s frustration will not be new – it’s a sample that stretches again to 2020. He first purchased bitcoin after a high-profile assembly with Cameron and Tyler Winklevoss, buying roughly $2M price of BTC at round $11,000 earlier than promoting it nearly instantly. That place would have been price roughly $12M when bitcoin crossed $60,000 six months later.
In a subsequent interview with Anthony Pompliano, Portnoy disclosed that his peak bitcoin publicity reached round $15 million, the majority of which he has since misplaced. He has additionally held XRP, shopping for it close to $1.70 and acknowledging he’s down a number of million {dollars} throughout each positions mixed, but refuses to exit both. His actual present BTC holdings stay undisclosed.
“Yeah, I obtained regrets. I purchased the factor for $100,000. There’s nothing I’ve been unsuitable about greater than Bitcoin. Each time I promote it, it goes nuclear. Each time I purchase it, it tanks,” Portnoy stated on Varney & Co.
$BTC is holding above the $62,500-$62,800 help zone.
Spot promoting has positively accelerated, so this help zone could be very essential.
If it holds, Bitcoin’s subsequent cease could be round $65,000. pic.twitter.com/ru2QcQi4zM
— Ted (@TedPillows) July 6, 2026
DISCOVER: Finest Meme Coin ICOs to Spend money on 2026
The Retail Timing Lure, Illustrated in Public
Portnoy’s historical past is a textbook demonstration of what behavioral finance calls reactive buying and selling, shopping for into momentum after a powerful rally and promoting into concern throughout drawdowns, the precise inverse of what generates returns.
As just lately as late June 2024, he stated he would contemplate deploying $5–10M of Barstool company funds into Bitcoin if the worth fell to $40,000, whereas explicitly declining to purchase at $60,000. The value by no means hit his threshold, and he finally re-entered above $100,000.
The uncomfortable reality his story illustrates is that market timing is reliably harmful for many contributors, not simply celebrities. Portnoy’s public losses, broadcast in actual time throughout FOX Enterprise and social media, underscore a lesson that takes most merchants years to study: entry-price self-discipline and an exit technique matter greater than conviction within the asset itself.
EXPLORE: Finest Crypto Presales With Uneven Upside within the Present Market
Why you’ll be able to belief 99Bitcoins
Established in 2013, 99Bitcoin’s staff members have been crypto consultants since Bitcoin’s Early days.
90hr+
Weekly Analysis
100k+
Month-to-month readers
50+
Knowledgeable contributors
2000+
Crypto Initiatives Reviewed
Comply with 99Bitcoins in your Google Information Feed
Get the most recent updates, traits, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now 
