Latest news with #Portnoy
Yahoo
16 hours ago
- Business
- Yahoo
Dave Portnoy's XRP Sell-Off Cost Him Millions—His Reaction? 'I Want To Cry'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. When XRP hit fresh all-time highs above $3.40 last Thursday, not all were rejoicing. 'I would've made millions, and I want to cry,' Barstool founder Dave Portnoy said that day in a video posted on X, disclosing that he had sold his XRP bag two weeks earlier at $2.40. 'I don't own it anymore, even though I was the leader of the XRP army,' he said. Portnoy, also known as 'El Presidente,' said he had dumped his XRP holdings on the advice of an unidentified person who had put him on to the asset in the first place. Portnoy said the individual told him that he was 'unhappy' with XRP because he believed Ripple would likely face stiff competition from Circle (NYSE:CRCL), issuers of the USDC stablecoin. Ripple is a blockchain cross-border payments firm. The founders of Ripple were also the creators of XRP. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . The person's concern appears to have emerged around the time Ripple and Circle filed for banking charters in the U.S. to bolster their stablecoin businesses. Portnoy said he held nearly $3 million worth of XRP before he sold. 'I wasn't gonna sell it,' he said Monday in an extended video lamenting his loss. 'I was gonna diamond hands it.' Heightening Portnoy's pain, his purported XRP adviser did not sell his holdings. 'And then the guy is like, well, I didn't sell it,' he said. 'He's like, I hold things for five years. Well, why did you text me out of the blue, been like I don't like it. I just put it away. I wasn't even thinking about it.' The XRP saga is another instance that highlights Portnoy's impulsive trading style. Despite posting 'XRP to the moon' on multiple occasions and claiming to be an 'XRP army' member, his tale suggests he had no conviction in the asset's fundamentals. Trending: New to crypto? on Coinbase. Portnoy admitted as much in May. 'It's FOMO,' he said, explaining his rationale for investing in XRP while speaking at Consensus 2025 at the time. 'It's not like I have some grand belief in it.' Portnoy speculated that XRP could experience the same level of growth as Bitcoin, fantasizing about a future where the asset could trade for thousands of dollars. Meanwhile, it is not the first time Portnoy has fumbled a major cryptocurrency bag. He initially ventured into cryptocurrencies in August 2020, throwing $2 million into Bitcoin and an estimated $300,000 into Chainlink following a conversation with the Winklevoss twins. However, he famously abandoned his positions about a week publicly bewailed this decision in March 2021, stating 'I f—-d up Bitcoin' as the asset's price rallied. The decision appears to continue to torment Portnoy. In December, he highlighted that his initial Bitcoin investment would have been up 10x if he had held. 'Dave is sad,' he said, pointing out that his cost price in 2020 was $11,000 as the asset surged over $100,000. The sting of this regret appears to have encouraged Portnoy to get back in the Bitcoin game, and unlike the last time, the market has so far looked kindly on him. 'I'm still doing good in obviously Bitcoin and ETH,' he said on Monday. Read Next: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— Image: Shutterstock This article Dave Portnoy's XRP Sell-Off Cost Him Millions—His Reaction? 'I Want To Cry' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Dave Portnoy calls out ‘morons' who think WNBA players shouldn't get more money
Dave Portnoy is fed up with those who believe WNBA players don't deserve a higher payday. In the wake of players wearing warmup shirts that said 'Pay Us What You Owe Us' at Saturday's All-Star Game, the Barstool Sports founder and owner made his stance clear with a lengthy post and subsequent video on X on Sunday. 'I don't know how anybody in the world with a brain, and maybe my brain is just bigger than most, can rationally say women don't deserve more money at this point,' Portnoy said in the video. Portnoy went on to reference how Caitlin Clark's rookie salary, $76,000, is less than what Barstool personalities Nicky Smokes and Ben Mintz make per year, calling the disparity 'insane.' As of the 2024 season, the WNBA's average salary was $147,745, according to DirecTV. Portnoy noted how some WNBA critics have referenced reports of the league losing tens of millions of dollars each year, but said the finances of the league are 'a mess, tied in with the NBA and purposely murky.' In October 2024, The Post reported the WNBA would be losing $40 million in the 2025 season. But, as Portnoy put it, the league is 'exploding.' 'Franchise values are exploding. Ticket sales, merch, tv rights all exploding. The players have an opt out in their CBA. Of course they took it. It's all about leverage in re-negotiations and for the 1st time in history of [the] league players have power,' Portnoy wrote. The league agreed to an 11-year, $2.2 billion TV rights deal with Disney, Amazon Prime Video and NBCUniversal last summer, and TV ratings (up 23%), ticket sales (up 26%) and attendance (13%) are all surging halfway through the season, according to NPR. 'The players make virtually nothing while the entire league explodes,' Portnoy added. 'Of course they deserve more money.' Portnoy, who is one of Caitlin Clark's most vocal superfans, also refuted the notion that the league's recent success is unsustainable because it over-relies on Clark's star power. 'This league is so white hot right now, and I know everyone's going to say, 'Well, it's only Caitlin Clark, it's a one-person league,'' Portnoy said. 'Caitlin Clark was 100% the match that lit the fuse…but, Caitlin's not going anywhere. She's year two of a 15-year career.' He added that other young stars like Angel Reese, Paige Bueckers and the soon-to-be pro JuJu Watkins mark a bright future for the league, too. Portnoy concluded by writing that if he could purchase a Boston-based WNBA franchise for $250 million, he 'would do it without blinking.' 'That's all you got to know about the WNBA finances,' he added.
Yahoo
3 days ago
- Business
- Yahoo
Dave Portnoy's $10 Million Elon Musk Bet Pays Off As Tesla Soars 12% In Two Weeks: 'That's A Million Bucks'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Barstool Sports founder Dave Portnoy has seemingly hit his mark on a high-stakes $10 million Tesla Inc. (NASDAQ:TSLA) trade he made two weeks ago. Check out the current price of TSLA stock here. What Happened: On July 8, Portnoy posted a video on X, claiming to have bet $10 million on Tesla shares, likely around $293 per share, where the stock was trading at the time. 'Update – I bought the 10 milly $TSLA hoping for 10% bounce in 2 weeks or less,' Portnoy posted on X, tagging the move as a #CrazyElon play, referring to CEO Elon Musk's decision to form a new political party, dubbed 'The America Party,' which led to a nearly 7% drop in the stock. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Portnoy said in the video that he aims to make 10%, or 'a million bucks' from the trade, which he promptly plans to take to the Saratoga Race Course in New York. Now, a little under two weeks later, Portnoy's trade has already hit its target, with the company closing at $329 a share on Friday, a gain of 12.28%. Portnoy, who regularly shares his latest sports wagers and their results on his X account, is yet to provide an update on this trade. Why It Matters: Tesla shares have been increasingly under pressure owing to Musk's political activities in recent months, with analyst Dan Ives of Wedbush Securities saying that his stint in the White House may have hurt the brand. Musk's recent fallout with President Donald Trump made things worse for his companies, with the latter threatening to terminate billions in government contracts. According to a survey of Benzinga readers, 71% believe that Tesla's shares will fall over the next 12 months, owing to Musk's renewed political push. Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — And You Can Invest At Just $6.37/Share If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image via Shutterstock This article Dave Portnoy's $10 Million Elon Musk Bet Pays Off As Tesla Soars 12% In Two Weeks: 'That's A Million Bucks' originally appeared on
New York Post
5 days ago
- Business
- New York Post
Dave Portnoy calls out ‘morons' who think WNBA players shouldn't get more money
Dave Portnoy is fed up with those who believe WNBA players don't deserve a higher payday. In the wake of players wearing warmup shirts that said 'Pay Us What You Owe Us' at Saturday's All-Star Game, the Barstool Sports founder and owner made his stance clear with a lengthy post and subsequent video on X on Sunday. 'I don't know how anybody in the world with a brain, and maybe my brain is just bigger than most, can rationally say women don't deserve more money at this point,' Portnoy said in the video. Portnoy went on to reference how Caitlin Clark's rookie salary, $76,000, is less than what Barstool personalities Nicky Smokes and Ben Mintz make per year, calling the disparity 'insane.' As of the 2024 season, the WNBA's average salary was $147,745, according to DirecTV. Portnoy noted how some WNBA critics have referenced reports of the league losing tens of millions of dollars each year, but said the finances of the league are 'a mess, tied in with the NBA and purposely murky.' 3 Barstool Sports founder and owner Dave Portnoy thinks WNBA players deserve a pay raise. @stoolpresidente/X In October 2024, The Post reported the WNBA would be losing $40 million in the 2025 season. But, as Portnoy put it, the league is 'exploding.' 'Franchise values are exploding. Ticket sales, merch, tv rights all exploding. The players have an opt out in their CBA. Of course they took it. It's all about leverage in re-negotiations and for the 1st time in history of [the] league players have power,' Portnoy wrote. 3 Dave Portnoy attends a game between the Indiana Fever and the Connecticut Sun at TD Garden on July 15. NBAE via Getty Images The league agreed to an 11-year, $2.2 billion TV rights deal with Disney, Amazon Prime Video and NBCUniversal last summer, and TV ratings (up 23%), ticket sales (up 26%) and attendance (13%) are all surging halfway through the season, according to NPR. 'The players make virtually nothing while the entire league explodes,' Portnoy added. 'Of course they deserve more money.' Portnoy, who is one of Caitlin Clark's most vocal superfans, also refuted the notion that the league's recent success is unsustainable because it over-relies on Clark's star power. 'This league is so white hot right now, and I know everyone's going to say, 'Well, it's only Caitlin Clark, it's a one-person league,'' Portnoy said. 'Caitlin Clark was 100% the match that lit the fuse…but, Caitlin's not going anywhere. She's year two of a 15-year career.' 3 Fever star Caitlin Clark wearing a 'Pay Us What You Owe Us' shirt before the WNBA All-Star Game on July 19. Getty Images He added that other young stars like Angel Reese, Paige Bueckers and the soon-to-be pro JuJu Watkins mark a bright future for the league, too. Portnoy concluded by writing that if he could purchase a Boston-based WNBA franchise for $250 million, he 'would do it without blinking.' 'That's all you got to know about the WNBA finances,' he added.
Yahoo
18-07-2025
- Entertainment
- Yahoo
Dave Portnoy Vows Not to See New 'Superman' Movie For One Reason
Overwhelmingly, despite some dip in its Rotten Tomatoes score, the new Superman movie is a hit. The James Gunn-directed movie has both strong reviews and a decent box office return. That said, not everyone is happy. On X, Barstool Sports owner Dave Portnoy has declared that he will not even bother seeing Superman in the theaters. "Announcement: I will not be watching Superman," Portnoy wrote in a tweet. He also added, "Thank you Mike." This references the podcaster Mike Francesa, who trashed the new Superman in a lengthy rant, which Portnoy retweeted. The primary complaint? Well, Francesa doesn't like the robots, doesn't like the presence of all the other superheroes, but most of all, doesn't like seeing Superman. "It's two hours of him getting the crap beat out of him," Francesa says. "He's getting beat up by everybody?" Is this accurate? Well, it depends on how you look at it. David Corenswet's Superman does start the movie after losing a fight, and when he's exposed to Kryptonite in Lex's "Pocket Universe," obviously, he's pretty underpowered there, too. Overall, Francesa does touch on a few things that some other, more lukewarm reviews have pointed out: that the movie is overstuffed and that the pacing is wonky at times. Does that mean Portnoy should boycott the movie and not make up his own mind? Well, it's his decision, but with a movie with this much going on, it's probably best to decide for Portnoy Vows Not to See New 'Superman' Movie For One Reason first appeared on Men's Journal on Jul 16, 2025 Solve the daily Crossword
