On October 1, 2020, popular American media personality Dave Portnoy announced that he had bought his first ever Bitcoin. This sent shockwaves throughout the crypto community, as Portnoy is known for his love of gambling and investing in high-risk assets.
In his announcement video, Portnoy said that he had bought $250 worth of Bitcoin. At the time of writing, this amount of Bitcoin is worth over $13,000.
This means that Portnoy has made a profit of over 5,000% in just a few months.
NOTE: This warning note is to inform readers about the risks associated with investing in Bitcoin. Please be aware that Bitcoin is a volatile asset and investing in it could potentially result in substantial losses. Furthermore, any information regarding how much Bitcoin Dave Portnoy has bought should be taken with a grain of salt, as it may not be accurate or up to date. The value of Bitcoin can change drastically within a short period of time and investments should only be made after doing thorough research and consulting with a financial advisor.
Portnoy has been a vocal critic of Bitcoin in the past. However, it seems that he has now changed his tune.
In his announcement video, Portnoy said that he was convinced to buy Bitcoin after learning about its potential as a store of value.
It remains to be seen whether or not Portnoy will continue to invest in Bitcoin. However, his decision to buy $250 worth of the cryptocurrency shows that he is at least somewhat bullish on its future prospects.
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In December 2017, when the price of Bitcoin was at its all-time high, Wall Street trader and hedge fund manager Brian Portnoy bought in. He put 10 percent of his net worth into the cryptocurrency.
“I’m all-in on Bitcoin,” Portnoy said at the time. “I don’t know how much lower it can go from here, but I do know that it will go up from here.”
Portnoy’s bet paid off – for a while. The price of Bitcoin surged to nearly $20,000 in December before tumbling back down to around $3,000 by the end of 2018.
