Dave Portnoy names himself leader of SafeMoon; Invests $40,000 in “shitcoin”

  • Dave Portnoy has invested in SafeMoon to add to his Bitcoin holdings.
  • He went on to declare himself the leader of the coin.

Self-named ‘Bitcoin Baron’ Dave Portnoy has named himself the leader of SafeMoon during one of the “Barstool emergency press conferences.” While speaking, Portnoy said he would be holding on to his Bitcoin regardless of any criticizing comment. He added that the recent price of Bitcoin (BTC) and Dogecoin (DOGE) over the past weeks have influenced his decision to involve himself in another cryptocurrency. 

Portnoy chooses SafeMoon

According to Portnoy, there is a need to pick a new altcoin, naming some cryptocurrencies as shitcoins. The shitcoins Portnoy mentioned include DOGE, Australian Safe Shepherd (ASS), Litecoin (LTC), SafeMoon (SAFEMOON), Shiba Inu (SHIB), and Hoge Finance (HOGE). 

Portnoy announced that he had already purchased $40,000 worth of SafeMoon and said:

This is my coin. I will not sell any in future, I will stick with it, I will do it, I will ride it even to the Stratosphere or Hell on Earth.

Portnoy continued to say further that he is not giving investment advice. He noted that SAFEMOON could be a Ponzi scheme. He added that he likes the word “Moon,” and that is where he wants to go.

It is less than 24 hours since Portnoy posted the video on his Twitter page, and it has generated nearly 2 million views. Already, some Twitter users are making inquiries on where to buy the ‘shitcoin.’

Shortly after the announcement, Portnoy went on to say that he does not know the founders of SafeMoon and was not paid to promote it. He added that he was particular in choosing a shitcoin that is neither on Coinbase or Blockfolio yet. 

Twitter users react to Portnoy’s new title as SafeMoon’s leader

In reaction to Portnoy’s tweet, BTC and Doge supporter Ben Baller said that the new self-appointed SafeMoon leader was paid to promote the coin. He claimed that the founders of SafeMoon paid Portnoy “a shit ton of their shit coins.”

SafeMoon has jumped more than 10 percent to $0.000008388 in the last 24 hours. 

Portnoy naming himself the leader of SafeMoon has triggered members of the crypto community. Some said that the Bitcoin Baron is comparing himself to Elon Musk, who is a known supporter of BTC and DOGE. 

Musk has particularly been supportive of DOGE and has fueled its rise. Shortly after slamming Bitcoin energy usage, Musk tweeted,

Working with Doge devs to improve system transaction efficiency. Potentially promising. 

A Dogecoin developer, Ross Nicoll, in an interview said the DOGE team has been working with Elon Musk since 2019. He said that the team has been working with the Tesla CEO to further reduce the energy consumption of the crypto. Nicoll added that the developers’ team has turned down funding from Musk.

 

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Bio: Ibukun Ogundare is a crypto writer and researcher who uses non-complex words to educate her audience. Ibukun is excited about writing and always looks forward to bringing more information to the world.

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