Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Dave Portnoy has been dabbling in the crypto and Bitcoin market for a few weeks now. After being reintroduced to the cryptocurrency market by Twitter, the Barstool Sports founder and celebrity day trader has been frequenting Crypto Twitter.
It reached a point where he was introduced to the Winklevoss Twins, who co-founded the Gemini crypto exchange.
Portnoy was then visited by the twins, who convinced him to buy Bitcoin and Chainlink (LINK). According to the Barstool founder, he purchased around $200,000 worth of Bitcoin and $50,000 worth of Chainlink. The cryptocurrency market then rallied around 5% in the day after he made this purchase, with LINK especially surging.
After temporarily selling all his cryptocurrencies due to $25,000 worth of losses he incurred, Portnoy just announced that he may re-enter this nascent market.
Dave Portnoy May Soon Re-Enter Bitcoin
On August 30th, the Bitcoin newbie announced that he will soon re-enter the crypto market once he’s figured out the intricacies of the crypto market. In his words:
“For all my #Crypto friends I am studying you. I am learning the way you think, breathe, exist. And when my giganto brain has figured you out I will re enter the market and conquer you and then lead you. Until then I watch, study, observe and soak it all in.”
For all my #Crypto friends I am studying you. I am learning the way you think, breathe, exist. And when my giganto brain has figured you out I will re enter the market and conquer you and then lead you. Until then I watch, study, observe and soak it all in. pic.twitter.com/SQiEw9Xeql
— Dave Portnoy (@stoolpresidente) August 30, 2020
He previously exited the crypto market because he incurred a loss on two of three of his cryptocurrencies, Chainlink and Orchid (OXT):
“I currently own zero bitcoins. I will wait and watch. 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… You LINK Marines are a bunch of f**ing frauds — you guys keeping on dumping this, not pumping it.”
Focus on Chainlink
When he returns to crypto, Portnoy is expected to have a focus on Chainlink and other altcoins, not just Bitcoin.
He explained in a recent tweet that he intends on “saving” the LINK marines, who he notes need saving due to Chainlink’s recently dropping price.
Featured Image from Shutterstock Price tags: Barstool's Dave Portnoy Is Preparing to Re-Enter the Crypto Market
