Portnoy Vows to Hold Bitcoin 'Down to Zero'
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- Dave Portnoy told FOX Business' Varney & Co he will hold his Bitcoin "down to zero" rather than sell, saying: "I know if I sell it, it's going to go nuclear again. I'd rather go down with the ship this time."
- Portnoy bought Bitcoin at roughly $100,000 and is now sitting on millions in losses, per his own account on the Stuart Varney program.
- Bitcoin peaked above $126,000 in October last year and has since halved to $63,000, according to CoinDesk data cited in the article.
- Portnoy attributed his predicament to a chronic timing problem: "Every time I sell it, it goes nuclear. Every time I buy it, it tanks."
- Portnoy's exact Bitcoin holdings are not publicly known, though he described his losses as totaling "millions."
- The article frames Portnoy's struggle as a universal retail-investor lesson about the futility of trying to time entries and exits in volatile markets.
Why it matters: Portnoy is a high-profile retail investor with a massive media audience, and his public vow to hold rather than try to time the bottom signals a capitulation-style conviction from a figure who explicitly admits he has "been wrong about" Bitcoin more than anything else — despite his self-confessed terrible track record of buying tops and selling bottoms.
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