Dave Portnoy’s Stance on Bitcoin

Dave Portnoy, the founder of Barstool Sports, has shared his views on bitcoin (BTC) and his willingness to accept it as payment despite not buying it at current prices.

Payment in Bitcoin

Portnoy disclosed that a significant portion of his sponsorship deal with the crypto exchange Kraken was paid in BTC along with dollars. While the exact amount was not revealed, both parties confirmed the payment arrangement.

Day Trader Hat

Known for his day trading endeavors, Portnoy admitted to struggling with timing trades in the bitcoin market, often buying high and selling low. At the current price exceeding $60,000, he finds it too expensive to invest a large sum, fearing potential losses.

Belief in Bitcoin

Despite his reservations about buying bitcoin at its current price, Portnoy emphasized his unwavering belief in the cryptocurrency by stating that he is always open to receiving it as payment, showcasing his confidence in its future value.

Bitcoin as Investment

Portnoy highlighted that many view bitcoin as a promising investment opportunity, attracting a diverse range of investors who see its potential for growth and value appreciation.

Bitcoin and Election Predictions

Portnoy expressed his optimism regarding bitcoin’s performance if Donald Trump, a pro-bitcoin advocate, wins the U.S. presidential election. However, he humorously acknowledged his track record of being frequently wrong in his predictions.