New BTC

Bitcoin

David Vance

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David Portnoy, an entrepreneur and influencer, has shared his plans on buying more Bitcoin, when the price is right.
In a video posted on his X account, he revealed the price level at which he would be ready to buy more BTC.&nbsp;
<blockquote>
 I already personally own <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> but if it dips down into the 40s I’m planning to buy $5-10m of Bitcoin with Barstool money <a href="https://twitter.com/hashtag/DDTG?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DDTG</a> <a href="https://t.co/nkrdPf7y6s" rel="noopener noreferrer nofollow">pic.twitter.com/nkrdPf7y6s</a>— Dave Portnoy (@stoolpresidente) <a href="https://twitter.com/stoolpresidente/status/1806681832315928620?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 28, 2024</a>
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As a long-term holder, Portnoy does not see any reason for buying at the $60,000-61,000 price level. If the price drops below $50,000, Portnoy plans to buy $5-10 million in Bitcoin.&nbsp;
According to&nbsp;<a href="https://cryptoquant.com/insights/quicktake/667e5c56931dcb63ae99b0e0-When-ultra-long-term-holders-sell-Bitcoin?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=cryptosunmoon" rel="noopener noreferrer nofollow">data</a> provided by CryptoQuant, ultra-long-term holders are currently selling Bitcoin. Anticipating a stronger bull market, they do not see any reason to stay in the asset as the BTC price declines. <img height="387" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfKPeQ0htvIPy58TOpf59Bt4pw4_yaQZc-ZDW2Kkko122E_GJbYxMDGEJnmlhdCVB4uRtgRFCQedPy7RlKTUsOkEzw-7gfBFDJfH7dsTUH2m0vIq4WKyhUEvYTCZQO-okMixR1BJLmibm-ujSYP1NgWH5sL?key=Sv5hv4b4UeHD-AjM5qbKUQ" width="624">Source: <a href="https://cryptoquant.com/insights/quicktake/667e5c56931dcb63ae99b0e0-When-ultra-long-term-holders-sell-Bitcoin?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=cryptosunmoon" rel="noopener noreferrer nofollow">CryptoQuant</a>
According to&nbsp;<a href="https://x.com/intotheblock/status/1806661376271643092" rel="noopener noreferrer nofollow">IntoTheBlock</a>, long-term Bitcoin (BTC) holders have sold off approximately $10 billion worth of BTC in May 2024. The pace, however, slowed down in June, with over 40,000 BTC sold by holders.&nbsp;
This past week Bitcoin faced some major challenges. Just two days before the end of Q1, the cryptocurrency could not break the resistance level and dropped below $60,000.
Despite the current rebound, the BTC price is struggling to climb back above $70K level, which it tested in March for the first time.&nbsp; In June, Bitcoin lost 14% in its value, dropping from $71,000 to around $60,000.

Bitcoin For $40,000? David Portnoy Shares New BTC Strategy

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