Dave Portnoy says he is down millions on Bitcoin and plans to keep holding
The Barstool Sports founder said on Fox Business that he bought near $100,000 and will not sell even if Bitcoin falls to zero, despite multimillion-dollar paper losses.
BTC
Fact Check
The primary Fox Business interview (July 3, 2026) directly confirms Portnoy said he is down millions on Bitcoin (bought at ~$100,000) and intends to keep holding 'to zero.' This is corroborated by crypto.news and CoinDesk, both referencing the same interview, plus multiple independent search results echoing the same statements. All sources agree on the substance of the claim.
Summary
Dave Portnoy said on Fox Business's Varney & Co. that he bought Bitcoin near $100,000 and is down millions of dollars on paper, but does not plan to sell even if the token falls to zero. The Barstool Sports founder's remarks point to a more committed holding stance despite sharp unrealized losses. The report also revisited his earlier crypto-related controversies, including the February 2025 GREED token collapse, LIBRA-related losses and compensation, and a prior SafeMoon settlement.
Terms & Concepts
- paper losses: Unrealized losses on an asset that has fallen in value but has not been sold.
- meme-coin: A cryptocurrency whose popularity is driven largely by online attention, branding, or community speculation rather than established utility.