Dave Portnoy, founder of sports and pop culture blog Barstool Sports, practically gave up $ 5 million in Bitcoin

Dave Portnoy, founder of sports and pop culture blog Barstool Sports, practically gave up $ 5 million in Bitcoin - Dave Portnoy 1024x683It doesn't happen that often that after a sharp rise in Bitcon, someone changes their mind and takes a step back. However, this time it happened to singer-songwriter Lily Allen, who today would be richer than the Queen of England if she had agreed to perform virtually for the sum of 200 bitcoins, which at the quotation today would have allowed her to collect 12,56 billion dollars!

A missed opportunity for the blogger

In August of last year, the crypto community celebrated the arrival of Dave Portnoy, the founder of sports and pop culture blog Barstool Sports, after buying Bitcoin worth $ 1 million.

In short, it was a huge deal and as usual, Crypto-Twitter celebrated the event by flooding the timeline with congratulatory tweets, in the hope that more and more investors will be able to invest in BTC. However, Portnoy backed off his decision as prices dropped and led to him losing $ 25.000 after the sale.

But as often happens to those who are in a hurry to sell, then regret their decision. This is objectively proven by the bitcoiners who have kept the coins in their wallets since its inception.

Portnoy has now turned to Twitter to express his disappointment at deciding to sell the bitcoins he had previously bought. In a video titled "Emergency Press Conference, I Wrong With Bitcoin", the CEO expresses all his frustration at selling the Bitcoins that would have brought him nearly $ 5 million in his pocket today if he had kept the asset for a while 'longer in its digital wallet.

In his video posted on Twitter, Portnoy says he wants to congratulate everyone who has bitcoins in their wallets today. He also adds that he was wrong and is not afraid to say it. He was wrong to sell his bitcoins and now he wishes he never did. He thought he had invested his money in something he was ready to check, but he couldn't.

Still nothing is lost if bitcoin continues to grow

While he hasn't disclosed if he has now bought any more bitcoins, it is more than possible that this has happened. Bitcoin advocates were quick to cheer Portnoy, pointing out how early it is still on the market and that big players like CZ consider the digital currency to be still in its infancy. In fact, if BTC continues this bullish trend throughout the year, Portnoy could do a lot more in the future than it lost previously.

In his video, he also noted that his knowledge of the dynamics of the asset may very likely not be sufficient, and this is in contrast to what analysts have proposed as more profitable for Bitcoin newbies: HODLing.