The founder of Barstool Sports, Dave Portnoy, has released a video where he picked SafeMoon as his sh*tcoin of choice. Portnoy said he purchased $40k worth of SafeMoon as a hedge against the fragility of Bitcoin.
My shitcoin announcement. Invest at your own risk. I have no idea how this works pic.twitter.com/G1iW8iZTWG
— Dave Portnoy (@stoolpresidente) May 17, 2021
However, popular crypto YouTuber Lark Davies continues in his calls that SafeMoon is a Ponzi scheme. A month ago, as SAFEMOON was blowing up, Davies posted a tweet in which he likened it to the most infamous scam in crypto history, Bitconnect.
Dave Portnoy Diversifies Into Alts
Portnoy is best known as the founder of the sports and pop culture blog Barstool Sports. But he began gaining popularity for live-streaming his stock trades.
A little under a year ago, Portnoy crossed over into the world of crypto by asking the Winklevoss twins to teach him about BTC in a live stream.
In February, he exited his Bitcoin position before it pumped to $51k, missing out on the gains as a result. He responded by venting on social media, saying he will never rebuy Bitcoin.
“I’m never buying Bitcoin. Never never, I don’t believe a thing about it. But I do think it’s profitable, and I think there’s enough steam that it may just continue to go up forever. But I don’t buy the underlying junk behind it.”
Despite that, Portnoy did buy back into Bitcoin.
More recently, he has turned his attention to alts, which is, as he claims, a response to the Elon-FUD of the past week. In a humorous video, the Barstool President narrowed down his choice of alts to six, eventually announcing SafeMoon as his pick.