Many people take advantage of the Bitcoin price drop to buy the dip

The Bitcoin ecosystem has seen a significant increase since its inception. Factors like institutional adoption, demand, etc gave way to more bullish scenarios. Despite Bitcoin price underperformance, backers in the community bought this sale at a discounted price. Many people who once hated BTC have also dipped their noses into the BTC pond.

This Bitcoin opponent, who swore never to touch it again, buys BTC worth $1.1 million as Bitcoin price drop

Dave Portnoy, founder, and CEO of sports and pop culture blog Barstool Sports, is currently trending in the crypto community. No, not for the Barstool Pizza Review, but a BTC instead. The celebrity took to Twitter to announce his latest purchase. He bought 29.5 BTC for $1.1 million on Friday.

He took advantage of Bitcoin’s 40% drop from its Nov. 10 all-time high of $69,000 to get back into the market. Various prominent Bitcoin advocates have hailed the move. MicroStrategy CEO Michael Saylor, leading the group of those who have already done so, tweeted: “Welcome back to Team Bitcoin.”

This is an exciting story considering his love-hate relationship with the top coin. In August 2020, Portnoy said he did not “trust this Bitcoin market at all” after losing $25,000 and threatened “never to come back.”

Although, he did acknowledge the digital asset. He opined: “I do think it’s profitable. I think with enough steam that it may just continue to go up forever, but I don’t buy the underlying junk behind it.”

Now, the aforementioned executive is not the only one. Many such people have changed hearts. For example, US Global Investor CEO and former Gold enthusiast Frank Holmes consider BTC an ‘attractive investment.’

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