Barstool Sports founder Dave Portnoy said he is prepared to hold his bitcoin position even if it falls to zero, after buying near the $100,000 mark.

Speaking this week, Portnoy acknowledged his repeated struggles with market timing and said he now intends to stay invested regardless of further downside.

“I’m holding. I’ll hold it to zero,” he said on FOX Business’ Varney & Co. “Every time I sell, it rallies. I’d rather ride it out this time.”

Portnoy said he purchased bitcoin around $100,000 and is currently sitting on losses worth millions. The asset had previously surged above $126,000 in October before retreating to roughly $63,000, according to CoinDesk data.

“I regret it. I bought at $100,000. There’s nothing I’ve been more wrong about than bitcoin,” he said. “Whenever I sell, it goes up. Whenever I buy, it drops.” His exact holdings are not publicly known.

His remarks highlight a familiar challenge in volatile markets: the difficulty of timing entries and exits. Traders often sell ahead of rallies and buy before downturns, leaving them on the wrong side of price moves.

While it remains uncertain whether his decision to hold will align with bitcoin’s longer-term trajectory, his candid admission underscores a common lesson for retail investors—market timing is difficult, and a long-term holding approach can often prove more effective.