Dave Portnoy Blames Winklevoss Twins For Confusing Him Into Selling Bitcoin Too Early

Barstool Sports founder Dave Portnoy has taken a lighthearted jab at himself and the Winklevoss twins, recounting a costly decision to sell his Bitcoin (CRYPTO: BTC) holdings after a perplexing conversation with the famed crypto advocates.

What Happened: In a tweet, Portnoy revealed he had purchased $2 million worth of Bitcoin at $11,000 per coin in 2020, only to sell it all shortly after a discussion with Cameron and Tyler Winklevoss.

Bitcoin is now trading at $98,000, after making an all time high of $103,679 on December 12, leaving Portnoy lamenting, "I've been chasing it ever since. Dave is sad."

In a resurfaced video accompanying the tweet, Portnoy humorously recalls being utterly baffled by the twins' explanation of Bitcoin, particularly their claim about the potential for Elon Musk to mine gold from asteroids.

"If he mines all the gold in the asteroids above Earth, then all of a sudden gold is going to fall from the sky and be as plentiful as sand," the twins had explained.

Also Read: Anthony Pompliano Says Countries Are ‘Going To FOMO’ Into Buying Bitcoin

Reacting to their comments, Portnoy admitted in the video, “I literally have no idea what Bitcoin is,” adding that parts of their conversation sounded like jokes but were delivered with dead seriousness.

His confusion led him to offload his Bitcoin holdings, a decision he now regrets as Bitcoin's price has surged nearly tenfold since then.

The video captures Portnoy's struggle to grasp the concept of Bitcoin, pointing out the complexities that can come with understanding digital assets.

His candid admission about selling too soon offers a relatable moment for many investors who have found themselves perplexed by cryptocurrency's nuances.

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