'Every Time I Buy It, It Tanks': Dave Portnoy Says He's Losing Millions as Bitcoin Falls

Briefly

Barstool Sports activities founder Dave Portnoy stated he is down tens of millions of {dollars} on Bitcoin as the highest coin falls.
Portnoy admitted he is by no means gotten something “extra flawed” than the main cryptocurrency.
In 2021 he famously “paperhanded,” or panic offered, a few of his Bitcoin after a worth drop.

Barstool Sports activities founder and media character Dave Portnoy is aware of he’s not an skilled crypto dealer—however that’s by no means stopped him from attempting time and again for a number of years now.

This week, Portnoy informed Fox Business host Stuart Varney that he’s down tens of millions on Bitcoin, the highest crypto asset by market cap, because it has fallen greater than 50% from its October all-time excessive of $126,080 to a latest worth of $62,162.

“Yeah, I’ve acquired regrets,” Portnoy informed Varney about his crypto buying and selling expertise. “I purchased the factor at $100,000, so I imply, proper now, I do not know what’s occurring.”

Bitcoin and crypto are making me unhappy.

— Dave Portnoy (@stoolpresidente) June 4, 2026

Portnoy supplied an trustworthy evaluation of his storied historical past with crypto buying and selling, which incorporates moments where he “fucking paperhanded,” or panic-sold his Bitcoin in 2021 after a drop within the worth.

“There’s nothing I have been flawed about greater than Bitcoin,” he informed Varney. “Each time I promote it, it goes nuclear. Each time I purchase it, it tanks.”

Regardless of the constant downward worth motion for Bitcoin and different prime crypto belongings in latest months, Portnoy stated this time he’s simply holding his floor.

“I’m simply holding. I’ll simply maintain this factor all the way down to $0,” 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 added.

Portnoy’s crypto historical past extends past Bitcoin, although, beforehand championing controversial meme coins like SafeMoon (SFM) whereas additionally declaring himself a proud member of the Link Marines, a group of buyers that assist LINK, the native token of the oracle community Chainlink.

Final yr, Portnoy acquired deeper into Solana meme cash, frequently trading in the trenches alongside different dangerous merchants. After doxxing his wallet and earning criticism for allegedly “pumping and dumping” meme cash, Portnoy embraced JAILSTOOL, a meme coin promoted with imagery that depicted his face behind bars.

“Hey crypto bros, I feel whoever made this coin is humorous and I wish to gather it as a reminiscence of you bitches crying like little infants,” he stated.

The token surged to a market cap above $210 million and earned a list on centralized alternate Kraken. However as of Friday, the token is down greater than 99.5% and trades simply above a $1 million market cap.