Barstool Sports founder Dave Portnoy will never sell his Bitcoin

Dave Portnoy, founder of Barstool Sports, is a Bitcoin holder with diamond hands. In a statement to Fox Business, he makes clear that he will not part with his digital coins under any circumstances, regardless of what happens to the price.

Bitcoin is available at OKX and Bybit.

Portnoy bets on full certainty

“I’m holding this thing until zero,” Portnoy openly declares. His message is clear: he has so much faith in Bitcoin that he would rather go down with the ship than risk missing out when the value explodes again. This kind of resolve is known as diamond hands, a term used by enthusiastic investors who are not deterred by volatility.

The Barstool Sports founder puts his finger on something many investors feel: the fear of selling and then immediately seeing the value shoot up. “I know that if I sell, Bitcoin will go to the moon again,” he says. This sentiment reflects the confidence of long-term hodlers who are not tempted by short-term market movements.

The current market situation

Despite such statements from prominent figures, the Bitcoin market remains constantly in motion. The Bitcoin price is currently around $62.678, with a slight decline of 0.3% over the past 24 hours. This kind of minor fluctuation is normal in the volatile world of cryptocurrencies.

Portnoy’s statement illustrates a growing phenomenon among investor groups: the willingness to hold positions for the long term. While some investors get nervous at every price fluctuation, individuals like Portnoy are known for their unwavering faith in the future of Bitcoin and the opportunities it offers.

Portnoy’s attitude fits into a broader pattern where prominent figures speak out about their crypto strategy. Whether this sentiment will actually hold when prices drop sharply remains to be seen.