Dave Portnoy: “Bitcoin will be okay”

Dave Portnoy, founder of Barstool Sports and popular trader, believes that Bitcoin will continue to evolve, despite the negative statements about it from many experts.

In an interview with Fox Business, Dave Portnoy commented on the recent words of JPMorgan Chase CEO Jamie Dimon, who called cryptocurrencies “fool’s gold.” Daimon is convinced that governments will soon establish strict oversight over Bitcoin, as it is often used for tax evasion and other illegal activities. In addition, bitcoin is hunted by ransomware hackers.

Portnoy noted that every day people say something new about bitcoin – both good and bad. But at the same time, the first cryptocurrency “goes its own way”, almost not reacting to these statements. This is due to the fact that bitcoin is already quite widespread among the world’s population. The tailor admitted that in the first time after the appearance of bitcoin, he was skeptical of it and considered it a fraudulent scheme.

“I was one of those who thought bitcoin was ‘throwing dust in the eyes’. But once bitcoin got enough public support, it became difficult to consider it a hoax. Therefore, with a high degree of probability, it will be legalized, ”said Portnoy.

In his opinion, bitcoin will remain on the market for a long time, even despite the bans of regulatory bodies. The trader said that he would like to buy more bitcoins, but now he does not have free funds for this, since he is now focused on buying real estate in Miami.

Last year, Portnoy managed to personally communicate with the founders of the Gemini cryptocurrency exchange Cameron and Tyler Winklevoss, and interview them. The brothers believe that bitcoin is much more valuable than gold, because if Elon Musk starts mining gold in space, the value of this precious metal will collapse.