In short
- Barstool Gaming founder Dave Portnoy said he’s lost millions of dollars on Bitcoin as the top currency collapses.
- Portnoy admitted that he had never received anything more “wrong” than an advance payment.
- In 2021 he was known to have “loaded the papers,” or panic sold, after some of his Bitcoin fell in value.
Barstool Games founder and broadcaster Dave Portnoy knows he’s not an expert at trading crypto—but that hasn’t stopped him from trying again and again for a few years now.
This week, Portnoy said Fox Business receiver Stuart Varney that are under millions of Bitcoin, the top crypto economy and market cap, as it has fallen more than 50% from its October all-time high of $126,080 to the recent price of $62,162.
“Yes, I regret it,” Portnoy told Varney about his actions in crypto trading. “I bought the thing for $100,000, so I mean, right now, I don’t know what’s going on.”
Bitcoin and crypto make me sad.
– Dave Portnoy (@stoolpresidente) June 4, 2026
Portnoy gave an honest review of his famous history with crypto trading, which includes minutes where they “made themselves naked,” or fear he sold his Bitcoin in 2021 when the price dropped.
“There’s nothing I’ve done more wrong than Bitcoin,” he told Varney. “Every time I sell, it’s nuclear. Every time I buy, it tanks.”
Despite the steady decline in the price of Bitcoin and other top cryptocurrencies in recent months, Portnoy said this time he was just doing his job.
“I’m just going to hold on, I’m just going to keep this thing down to $0,” he said. “I know if I sell it, it will come back.”
“I’d better get off the train this time,” added Portnoy.
Portnoy’s crypto history goes beyond Bitcoin, though, in the past promoting the funding of controversial memes like SafeMoon (SFM) while declaring himself a a proud member of the Link Marinesa group of investors who support LINK, the popular token of the oracle network A link in the chain.
Last year, Portnoy took a deep dive into the Solana meme, often doing business in the canals along with other dangerous traders. After messing with his wallet and being reprimanded for telling him to “pump and dump” meme money, Portnoy he hugged JAILSTOOLmeme money raised with pictures showing his face behind bars.
“Hey crypto bros, I think whoever made this coin is funny and I want to collect it for you as a memory of your crying like babies,” he said.
The token rose to market value of more than $210 million and listed on the Kraken exchange. But as of Friday, the token has dropped more than 99.5% and is only trading at a price of $1 million.
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