The founder of Barstool Sports blog, Dave Portnoy, announced he purchased 29 bitcoin on January 28, spending more than a million dollars. The day trader has had his ups and downs with bitcoin over the last few years, and it seems he’s now jumping back into the market.
Day Trader Dave Portnoy Bought 29 Bitcoin on the Fly After His Ups and Downs With the Leading Crypto
In August 2020, the stock trader and the founder of Barstool Sports blog, Dave Portnoy, told his Twitter followers that he currently owned “zero bitcoins.” “I will wait and watch,” the day trader wrote at the time. “I lost 25K. Just like with the stock market it took my brain time to figure it out. I know this. The Link Marines are weak and the orchid flowers do die in the crypto world. I may or may not be done,” Portnoy added. Earlier in the day, Portnoy seemed very irritated with cryptocurrency markets and stressed in a video:
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.
The Barstool Sports blog founder had recently entered into a BTC position when he sold his stash of dogecoin (DOGE), after hearing that Tesla sold some bitcoins in April 2021. “I am the proud owner of 1 bitcoin,” Portnoy said at the time . Now it seems after bitcoin (BTC) dropped over 40% from its November 10, 2021, all-time high, BTC is at the right price for Portnoy’s taste. The Barstool Sports blog founder tweeted:
F***ed around and bought 29 bitcoins today.
Barstool Blogger Writes: ‘Parabolic Dave’ Returns With a ‘Cool Milly’ Worth of Bitcoin
The CEO of Microstrategy Michael Saylor responded to Portnoy’s tweet and said: “Welcome to Team Bitcoin.” The purchase was featured on Barstool Sports blog in a post called “Davey Crypto Just Bought A Million Bucks Of Bitcoin,” written by the blogger Nate. “I thought that was the last we’d see of Parabolic Dave,” Nate wrote. “And then today he reached between his couch cushions and bought 29 [bitcoin]. A cooooool milly. All it took was a little old school Barstool mudslinging from the mean girls and a side order of Smitty and Dave is back in action. I love it.”
The Barstool Sports blog founder’s tweet about purchasing 29 BTC for a million dollars was very popular on Twitter getting more than 32,000 likes and over 2,000 retweets, at the time of writing. Many bitcoin supporters welcomed Portnoy back into the fold and supported his decision to spend a million dollars on the leading crypto asset.
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What do you think about Dave Portnoy messing around and purchasing 29 bitcoin for a million dollars? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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