Barstool's Portnoy vows to hold Bitcoin to zero after buying near $100K peak

·2 views

Barstool Sports founder Dave Portnoy has declared he will hold his Bitcoin investment even if its value drops to zero. Portnoy made the statement after purchasing Bitcoin at a price close to $100,000. The announcement drew attention given Portnoy's track record of poorly timed entries into the cryptocurrency market. His comments reflect a defiant stance despite the significant downside risk associated with his position.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

NYLIM Executive: Blockchain Could Enable Personalized Portfolio Construction

Thomas Sy, head of multi-asset solutions at New York Life Investment Management (NYLIM), believes tokenization is poised to transform personalized portfolio management. The executive, who oversees operations at the $800 billion asset manager, argues that blockchain technology can enable complex portfolio construction currently not achievable through traditional finance. Sy's comments highlight tokenization as an emerging use case beyond its existing applications in asset management. The remarks reflect growing institutional interest in leveraging blockchain to modernize and customize investment strategies.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin Surpasses $63,000, Recovering June Losses in Holiday Trading

Bitcoin climbed above $63,000, reaching its highest level in over a month. The rally came during reduced trading activity on July 4, a U.S. public holiday. The move effectively reversed losses that the cryptocurrency had accumulated toward the end of June. XRP led gains among major cryptocurrencies, rising approximately 5% within a 24-hour period.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Ethical Hackers Found Aptos Blockchain Flaw That Risked $70B in Crypto

Security researchers discovered a critical vulnerability in the Aptos blockchain that has since been patched. The flaw allowed attackers to break a core security guarantee with nearly a 90% success rate. Carrying out the attack required only a modest $3,000 server and cost just hundreds of dollars to execute. The vulnerability posed a potential risk to approximately $70 billion worth of cryptocurrency stored on the network. The responsible disclosure and subsequent patch prevented any known exploitation of the flaw.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Experts divided on proposal to freeze Satoshi's 1.1M BTC amid quantum computing fears

Binance founder Changpeng Zhao has proposed freezing the approximately 1.1 million bitcoin believed to be held by Bitcoin creator Satoshi Nakamoto. The suggestion comes amid growing concerns that advances in quantum computing could eventually allow bad actors to crack early Bitcoin wallet encryption. Zhao argues that preemptively locking these coins would protect the network from a potential quantum-enabled theft. However, the proposal has sparked disagreement within the Bitcoin community, with experts split on whether such an intervention is necessary or appropriate.

0 comments Read more at CoinDesk