Blow To Bitcoin As Portnoy Warns Cryptocurrencies Are Just ‘One Big Ponzi Scheme’

Bitcoin and cryptocurrency trading is not for the faint of heart, as Dave Portnoy, the founder of the Barstool Sports blog-turned stock market day trader, learned this year.

The bitcoin price, which has been bouncing around $10,000 per bitcoin since the beginning of September, has climbed through a tumultuous 2020—adding around 45%.

Now, Portnoy has revealed he’s completely cashed out his $1 million bet on bitcoin and warned he thinks the cryptocurrency market is nothing more than a…


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