Dave Portnoy Throws Down the Gauntlet: 'Bitcoin Looks Like It's Going to Zero'

Dave Portnoy, the outspoken founder of Barstool Sports, has never been one to mince words, especially when it comes to crypto. After Bitcoin crashed below $60,000 on June 24, Portnoy took to social media to challenge Bitcoin bulls, questioning their $1 million predictions.

Portnoy's Challenge

Portnoy directly called out maximalists who have been predicting a surge to $1 million, asking them to explain why critics calling Bitcoin a "scam" are wrong. His blunt remark: "Cause it seems like it's going to zero."

The $1 Million Club

Public figures like Jack Dorsey, Cathie Wood, and Michael Saylor have all predicted Bitcoin reaching $1 million or more. However, Portnoy's skepticism highlights the growing divide between die-hard bulls and those losing faith.

Diamond Hands

Despite his bearish outlook, Portnoy doubled down on his commitment to hold, stating, "I was born with diamond hands. I'll die with diamond hands." This echoes his previous stance of not selling even during major downturns.

Market Sentiment

The broader market is feeling the pain, with the Crypto Fear & Greed Index falling into "extreme fear" territory. Even former believers like Mark Cuban have admitted to selling most of their Bitcoin, calling it a lost cause. Elon Musk also labeled most cryptocurrencies as "scams" during a court hearing, though his companies still hold Bitcoin.

At press time, Bitcoin was trading at $61,035, according to Decibel.

This article originally appeared on TheStreet.