The central theses
- Dave Portnoy has partnered with the US-based crypto trading app BlockFolio.
- The internet celeb said he “fucked” Bitcoin because of weak hands.
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Famed internet star Dave Portnoy has teamed up with Blockfolio, a crypto portfolio tracker app.
Portnoy supports BlockFolio
Blockfolio is the newest affiliate on Dave Portnoy’s day trading internet show. El Presidente said in a Twitter interview that FTX’s own crypto trading app was their “greatest customer of all time”.
Barstool Sports founder became famous in the 2000s through sports betting analysis and culture blogs. Portnoy started daytrading during the pandemic last year when its 2.2 million Twitter fans searched for Portnoy’s market tips.
In August 2020, Portnoy bought $ 200,000 bitcoin after an interview with the Winklevoss twins. At that point, the price of Bitcoin was over $ 11,500. In the weeks following its purchase, Bitcoin’s price briefly fell below $ 11,000 when the influencer left his position fearing a decline.
In a Twitter video on Saturday, he said, “I spiced up Bitcoin for ‘paper hands’ – a popular term among traders to describe the weak hands of investors during consolidation periods.
Emergency press conference – I messed up Bitcoin pic.twitter.com/wJcRTMn5do
– Dave Portnoy (@stoolpresidente) March 13, 2021
Now that Bitcoin has hit a high of over $ 60,000, Portnoy is finding new ways to make money from the growing industry.
Previously, he also avoided Bitcoin due to the complexity of managing a crypto wallet.
Blockfolio is the crypto equivalent of the stock trading app Robinhood. Portnoy had blasted Robinhood after trading GameStop, Dogecoin, and other select stocks ceased during the Reddit short squeeze. It seems Portnoy’s affinity for crypto is stronger than expected.
Disclosure: The author held Bitcoin at press time.
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