Bitcoin News and Finance
Stock Trader Dave Portnoy Dumps All His Dogecoins to Buy Bitcoin Skip to main content

Stock Trader Dave Portnoy Dumps All His Dogecoins to Buy Bitcoin

Stock Trader Dave Portnoy Dumps All His Dogecoins to Buy Bitcoin

After vowing to never buy bitcoin again, stock trader Dave Portnoy has sold all of his dogecoins, which he bought when the price was at a record high, to buy one bitcoin. Having been called “paper hands,” Portnoy now says will never sell his one bitcoin.

Dave Portnoy Now a Proud Bitcoin Owner

American day trader and founder of Barstool Sports blog, Dave Portnoy, has finally bought bitcoin. He posted a video on Twitter Monday revealing: “I did buy one bitcoin when it was at $48,000. That’s all I can afford.” He tweeted:

I am the proud owner of 1 bitcoin.

After learning that Elon Musk’s Tesla sold some of its bitcoins, Portnoy said he will not sell his BTC. “I am holding 100% of my bitcoin,” he emphasized. He then said on Tuesday that his bitcoin is up from the price he bought it at, stating, “I’m way up on it since I bought it.” He also started calling himself “the barron of bitcoin.”

Regarding his mini dialogue with Elon Musk about Tesla selling some of its bitcoins, Portnoy said: “Elon and I did not fight. As a true believer in bitcoin and proud owner of 1 bitcoin. It’s my duty to defend against all lettuce handed threats no matter big or small, real or perceived.”

Out of Dogecoin Into Bitcoin

Prior to buying bitcoin, he was fascinated with dogecoin when the price was hitting all-time highs. On April 16, he posted a video stating that he will log into his Blockfolio account and see how to get involved in dogecoin which he called a “Ponzi scheme.” On April 20, Doge Day, he posted a video saying that he bought $25,000 of dogecoin.

However, Portnoy confirmed on Monday that he has sold all his dogecoins, but he claims that he did not sell at a loss. He clarified:

I don’t own any DOGE. I sold DOGE … I bought it high and when dogecoin didn’t go I sold it and moved on.

He is also selling his first NFT — a pizza review. “If you want to own a piece of history and a piece of my soul, here is your chance,” he said.

Portnoy first learned about bitcoin when the Winklevoss twins went to his home in August last year to show him personally how to buy bitcoin via their cryptocurrency exchange Gemini.

Besides investing $200K in BTC, he also invested in chainlink (LINK) and orchid (OXT) at the time. However, as crypto prices fluctuated, Portnoy sold all of his coins and got out of cryptocurrencies altogether. “I’m out on crypto because coins don’t always go up. Stocks on the other hand continue to always go up,” he said at the time.

As the price of bitcoin continued to increase, Portnoy regretted selling his coins. He posted a video in February saying that he will never buy bitcoin again. Admitting that BTC was the only investment that kept on rising, he said, “I know I’m an idiot with bitcoin. But I refuse to be the poorest man on the ship. I won’t swab the decks.”

What do you think about Dave Portnoy selling dogecoins and buying one bitcoin? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory