Dave Portnoy said he will not sell his Bitcoin or XRP holdings, even after the crypto downturn left him with millions of dollars in unrealized losses. The Barstool Sports founder said he has kept buying during the slide and has burned through most of his cash reserves.

He made the comments on X, the platform formerly known as Twitter, where he said he still holds substantial amounts of both tokens. For traders searching for a reason to watch him now, it is simple: Portnoy is not stepping aside in a falling market. He is adding to it.

Portnoy said he bought XRP earlier this year at about $1.70 per token, a level that now looks painfully high given the decline since then. He also said his Bitcoin position is deep in the red, turning a public crypto bet into a paper loss measured in the millions.

That matters because Portnoy is not talking about a small side trade. He has a large online following, and his crypto moves have often drawn attention far beyond his own portfolio. In 2020, he also had a well-publicized partnership with early Bitcoin adopter Crypto Cobain, a sign that his interest in the market has been public for years.

Still, the contradiction is plain. Portnoy says the losses are already severe, yet he has been buying more during the recent price decline. His stance echoes the long-term holding approach common among crypto investors, but it also leaves him exposed if the downturn continues to deepen.

He pointed to Jack Dorsey’s prediction that Bitcoin could eventually reach $1 million, using that outlook to justify holding through the slump. The broader market has been under pressure from regulatory uncertainty, rising interest rates and waning risk appetite among traders, and major assets including Bitcoin and XRP have suffered sharp corrections. Portnoy’s own next move is the real question now: he says he will not sell, but it is not clear whether he will keep buying if the slide goes on.