“I want to congratulate all my Bitcoin people out there. [$61,000], parabolic guy with the shades and the diamond eyes and all that. ‘Oh, he’s a paper hand.’ When you’re wrong, you’re wrong. I fucking paper-handed sold it.”
In 2020, Portnoy invested over $1.25 million in Bitcoin and Chainlink (LINK) after having a quick meeting with the Winklevoss twins. He immediately cashed out and booked a loss of $20,000. At the time, the leading cryptocurrency was trading below $12,000.
Portnoy adds that Bitcoin’s volatility was too much for him to handle.
“I fucking can’t take Bitcoin, the ups and downs. I wish I fucking had. I took my money and put it in what I think I know and what I can control and what I have a hand [on]. I don’t know Bitcoin… So I said, ‘Hey, I’m going to bet on me.’ I fucked up, alright. I took Emeka Okafor. Sorry. I bet on myself. It didn’t pan [out].”
I’m never buying Bitcoin. Never. Never-never. I don’t believe a thing about it, but I do think it’s profitable. I think there’s enough steam that it may just continue to go up forever. But I don’t buy the underlying like junk behind it.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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