Dave Portnoy, who has invested over $1 million in bitcoin, exits cryptocurrencies after the market drawdown

Dave Portnoy, the creator of the Barstool Sports, told to his Twitter followers that he sold all previously acquired bitcoins.

In addition to Bitcoin, Portnoy also acquired Chainlink and Orchid coins and has been actively promoting them in recent days.

On Monday, when the bitcoin price climbed to $12,400, Tailor was extremely enthusiastic. According to him, he made over $100,000 on Bitcoin and had at least $300,000 in LINK. The entrepreneur hoped that, while maintaining the same dynamics, he would increase his investments by a million dollars in a month. However, LINK’s price has since dropped 30% and OXT has dropped 28%. Bitcoin presumably stayed at its intended entry point.

“I have zero bitcoins at the moment. I will wait and watch. I lost $ 25K …”, – he wrote on Friday night.
Link Marines (Chainlink), Tailor called “weak”, Orchid flowers, he claims, “are dying in the world of cryptocurrencies.”

In the comments to his post, users tried to draw Portnoy’s attention to the fact that he acquired Chainlink at the peak of the coin’s growth and that after the correction, its price, as they expect, will go up again.

After a while, the entrepreneur posted a second tweet, stating that he quit cryptocurrencies because “coins don’t always grow.” In contrast, shares, he is convinced, continue to rise.

Due to the downturn in the sports industry caused by restrictions amid COVID-19, Tailor switched to stock trading. In early August, he became interested in bitcoin, but the principle of operation of the cryptocurrency seemed too complicated to him.



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