Dave Portnoy will buy a lot of Bitcoin if its price drops to $40,000

He bought the cryptocurrency during the pandemic but sold it soon after, quickly regretting his hasty decision as Bitcoin's value rose significantly after the sale. Since then, Portnoy has continually expressed his disappointment over the premature sale of the top cryptocurrency.

“I already own Bitcoin, but if it drops to $40,000, I plan to buy $5-10 million worth of Bitcoin with Barstool money,” Portn recently wrote

On Friday, June 28, the price of Bitcoin fell 2.1%, falling below $61,000 but holding above $60,000. Some analysts suggest that BTC could plunge to the $50,000 level, and in the worst case, to $40,000. Portnoy's intention to invest millions in Bitcoin as the price declines further underscores his confidence in the long-term value of BTC that his bitter experience has brought him.