Dave Portnoy says ‘just shut up and buy Bitcoin’ as he reveals $5 million bet
2025-07-14 20:10:01
Main Idea
An investor reflects on Bitcoin's strong performance and suggests that focusing on Bitcoin might have been a better strategy than overcomplicating investments, as Bitcoin reaches new record highs.
Key Points
1. Bitcoin's price has climbed from under $100,000 to a new record high above $123,000, currently trading at $119,889.
2. The investor admits that overthinking other investments may have distracted from the obvious opportunity in Bitcoin.
3. Despite having over $5 million in crypto on Kraken, the investor feels it might not be enough, calling the market 'rip city'.
4. The investor's relationship with Bitcoin has been rocky, including a past loss of $170,000 in a mistaken crypto purchase.
5. The investor, known for his unpredictable stock-picking style, began investing in stocks in 2019 before turning to crypto.
Description
Barstool Sports founder Dave Portnoy has offered a reflection on his investing approach, admitting that, for all the debate and analysis, simply buying Bitcoin ( BTC ) might have been the smarter move all along. Portnoy shared that he talks with his financial advisor daily about stocks, only to confess they may have been overthinking it. All the back-and-forth, he suggested, might have distracted them from the obvious Bitcoin play, he said in an X post on July 14. His remarks hinted at a sense o...
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