Many welcomed Dave Portnoy to the Bitcoin “club” on Friday. Only problem is, El Presidente’s been team Bitcoin — at least technically — for a little while now.  Covered: Dave Portnoy Buys A Significant Amount Of Bitcoin Dave Portnoy: Learned His Lesson SafeMoon… Dave Portnoy Buys A Significant Amount Of Bitcoin Dave Portnoy Tweeted out […] The post Dave Portnoy Revealed How Much Bitcoin He Just Bought appeared first on CryptosRus.

Dave Portnoy Revealed How Much Bitcoin He Just Bought

Many welcomed Dave Portnoy to the Bitcoin “club” on Friday. Only problem is, El Presidente’s been team Bitcoin — at least technically — for a little while now. 

Covered:

  • Dave Portnoy Buys A Significant Amount Of Bitcoin
  • Dave Portnoy: Learned His Lesson
  • SafeMoon…

Dave Portnoy Buys A Significant Amount Of Bitcoin

Dave Portnoy Tweeted out a screenshot on Friday afternoon proving he bought the Bitcoin dip. All in all, the Barstool Sports founder bought 29 bitcoins which were were worth just north of a million USD at the time.

Buying the Bitcoin dip is also colloquially known as “pulling a Michael Saylor.” Appropriately the man behind the idiom extended a warm welcome to the controversial media figure: “Welcome to Team #Bitcoin.”

Though, if he had been paying attention he’d know Portnoy had already invested in Bitcoin and at least two other cryptocurrencies so far. Back in August of 2020, Portnoy bought a million dollars worth of Bitcoin and Chainlink. But sold not too long after that after he panicked when the market dipped.

Portnoy would later say in early 2021 that he, “will never buy Bitcoin.” Not that he didn’t think it could make money, he just doesn’t “buy the underlying junk behind it.” Though that didn’t last long.

Recommended: Mark Cuban Owns A Lot More Crypto Than You’d Think

Dave Portnoy: Learned His Lesson

“…I need a significant dip and maybe I miss it, maybe I sit on the sidelines and Parabolic Guy [Morgan Creek Digital co-founder Jason Williams] in his 13 Ferraris are driving circles around me, maybe that’s it. I need a price I can stomach to get back in.” He would later buy back in the 44 range. However, Bitcoin dipped below his buy price.

Though, he learned his lesson this time. And used his diamond hands to take a shot at Elon Musk.

It appears with Portnoy’s latest buy, he’s truly learned his lesson. It’s unclear if he sold his previous Bitcoin at a profit, but at the very least he’s accumulating around a support zone rather than panic selling.

However, his diamond hands are proving costly, too.

SafeMoon…

Back in in May of 2021, Portnoy bought into Safemoon, the highly controversial deflationary memecoin. His initial investment of 40k is currently worth under 4k.

Recommended: Kevin O’Leary Updated Us On His Crypto Portfolio Size, And He Looks More Bullish Than Ever

The post Dave Portnoy Revealed How Much Bitcoin He Just Bought appeared first on CryptosRus.