Barstool's Portnoy plans to hold bitcoin down to $0 after timing it wrong every time

Barstool Sports founder Dave Portnoy said this week that he will hold his bitcoin BTC $ 62,722.37 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.

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