Portnoy's Crypto Woes: Down Millions on Bitcoin After Price Plunge

Barstool Sports founder Dave Portnoy is down millions of dollars on Bitcoin after the top crypto asset fell more than 50% from its October all-time high of $126,080 to a recent price of $62,162.

Portnoy admitted he's never gotten anything 'more wrong' than Bitcoin and claimed that every time he sells it, it goes up, while every time he buys it, the price drops. He added that this time he's just holding onto his Bitcoin, saying 'I'd rather go down with the ship this time.'

Portnoy has a history of investing in various cryptocurrencies, including SafeMoon (SFM) and Solana meme coins. However, after doxxing his wallet and facing criticism for allegedly 'pumping and dumping' these tokens, he endorsed JAILSTOOL, a meme coin that surged to a market cap above $210 million before plummeting more than 99.5%.