Portnoy Embraces ‘Hold to Zero’ Strategy Following سلسلة of Bitcoin Missteps

Barstool Sports founder Dave Portnoy said he is prepared to hold his bitcoin position even if it falls to zero after buying near the $100,000 level.

Speaking this week, Portnoy acknowledged repeated missteps in timing the market and said he now intends to stay invested regardless of further losses.

“I’m holding. I’ll hold it to zero,” he said on FOX Business’ Varney & Co. “Every time I sell, it rallies. I’m staying in this time.”

Portnoy said he bought bitcoin around $100,000 and is currently down millions. The cryptocurrency previously climbed above $126,000 in October before dropping to roughly $63,000, according to CoinDesk data.

“I’ve got regrets. I bought at $100,000. There’s nothing I’ve been more wrong about than bitcoin,” he said. “Whenever I sell, it goes up. Whenever I buy, it goes down.” His exact holdings remain undisclosed.

His comments underscore a familiar challenge in volatile markets: the difficulty of consistently timing entry and exit points. Traders often sell ahead of rallies and buy before pullbacks, leaving them on the wrong side of price moves.

While it remains unclear whether his decision to hold will align with bitcoin’s long-term trajectory, his experience highlights a common lesson for retail investors—trying to time the market often proves less effective than holding through cycles.