According to BlockBeats, Dave Portnoy, the founder and president of Barstool Sports, has announced his intention to purchase Bitcoin using company funds. However, this decision is contingent on the leading cryptocurrency reaching his desired price level.
Portnoy stated that if the price of Bitcoin reaches $40,000, he will use Barstool's money to buy Bitcoin worth $5 million to $10 million. However, he clarified that he would not purchase at a price of $60,000. He also revealed that he personally owns a significant amount of Bitcoin.
This move by Portnoy indicates a growing trend among company executives to invest in cryptocurrencies as a part of their business strategy. However, the decision to invest is often tied to the fluctuating price of these digital assets. Portnoy's statement also highlights the increasing acceptance and adoption of Bitcoin among individuals and corporations alike.