NEW: Dave Portnoy Plans to Buy $5M-$10M in Bitcoin at $40K Dip

Dave Portnoy, founder of Barstool Sports, announced plans to invest $5-10 million in Bitcoin if its price drops to the $40,000 range. Portnoy, known for his influence in sports and pop culture media, made this statement via a video post on X, formerly Twitter. He emphasized that while he personally owns Bitcoin, he wouldn’t use Barstool funds to purchase at the $60,000 level.

Portnoy’s relationship with Bitcoin has been tumultuous. He initially bought the cryptocurrency during the pandemic but sold it shortly after, a decision he has publicly regretted as Bitcoin’s value soared afterward. This time, Portnoy is prepared to take a significant position if the price drops to his target range.

In his recent announcement, Portnoy highlighted his existing personal Bitcoin holdings and clarified his strategy for using Barstool money. “I already have a ton of personal bitcoin, so don’t get it confused,” he stated, underscoring his commitment to leveraging a potential dip for a substantial investment.

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