Barstool Sports president Dave Portnoy purchased Bitcoin for the third time. This time, he didn’t just purchase 0.1 of a Bitcoin, but instead, he purchased 0.5 of a Bitcoin which is equivalent to $2,700. This time, he has selected to put his Bitcoin into a wallet that he calls the “Custodian Vault”. He claims that this is the best way to store your Bitcoin and that this will be the last time he ever purchases Bitcoin.
Let’s start with a question: What do Dave Portnoy, the American sports blogger, and Bitcoin, the digital currency, have in common? For starters, they both just got associated with one of the largest scams in the history of cryptocurrency. That’s right: Portnoy, the president of Barstool Sports, a blog that has been described as “the most sexist, racist, homophobic and transphobic place on the Internet,” has, once again, bought into a cryptocurrency scam.
Dave Portnoy, president of pop culture and sports media company Barstool Sports, revealed today that he has bought bitcoin, even though he had vowed two months ago never to do so.
I tell you: I am the proud owner of bitcoin, Portnoy wrote on Twitter today.
Slip: I am the proud owner of 1 #Bitcoin @blockfolio pic.twitter.com/AkTafc70S2
– Dave Portnoy (@stoolpresidente) April 26, 2021
I bought some Bitcoin. When it cost $48,000, that was all I could afford. 50,000, and I now own a Bitcoin. I don’t have a DOGE. I sold DOGE, but not at a loss. I bought it at a high point, when Dogecoin didn’t go away, I sold it and bought bitcoin. I am the proud owner of a Bitcoin. Not to mention all the bitcoins I lost in the ether four years ago, Portnoy says in the video.
It must be said that the president of Barstool Sports has a tumultuous relationship with cryptocurrencies. Last August, Portnoy said he had invested $1 million in bitcoin (which was worth about $11,500 at the time) and Chainlink and spoke very positively about these digital assets.
But just two weeks later, he sold all of his cryptocurrencies when their prices collapsed, losing about $25,000 in the process, according to his own account. Portnoy has since criticized bitcoin and even vowed in February to never buy it again.
I will never buy #Bitcoin. Never. #DDTG pic.twitter.com/zi2B06xz96
– Dave Portnoy (@stoolpresidente) February 17, 2021
Bitcoin is the only one not going down, 51,000. Bitcoin lost 51,000 and 11,000 in August. Jesus Christ, Portnoy said in his video, adding: I will never buy Bitcoin. Never. Never, never. I don’t believe it. But I think it’s beneficial. I think with enough steam it could grow indefinitely, but I don’t buy the underlying junk.
Now it looks like the basic crap won out after all.
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