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Entrepreneur and influencer Dave Portnoy said he plans to purchase up to $10 million worth of BTC when the price bottoms.
According to UToday, a media outlet specializing in cryptocurrency, on the 28th (local time), Portnoy, a long-term holder, revealed the price level at which he is ready to purchase more Bitcoin in a video posted on his X account.
Portnoy, who has 3.1 million followers, has no reason to buy BTC at the $60,000-$61,000 price level, and if the price falls below $50,000, Portnoy plans to buy $5-10 million worth of BTC.
I already personally own #Bitcoin but if it dips down into the 40s I'm planning to buy $5-10m of Bitcoin with Barstool money #DDTG pic.twitter.com/nkrdPf7y6s
— Dave Portnoy (@stoolpresidente) June 28, 2024
Bitcoin faced some big challenges last week. Just two days before the end of the first quarter, the cryptocurrency failed to break through resistance and fell below $60,000.
Despite the current rebound, Bitcoin's price is struggling to climb back above the $70,000 level it first tested in March. In June, Bitcoin's value fell 14%, from $71,000 to about $60,000.
According to CoinGecko, as of 9:59 p.m. on the 29th (Korean time), the price of one Bitcoin is trading at $60,942, down 10% from a month ago.
