Dave Portnoy’s Barstool Fund Accepts BTC, ETH & 10 Other Crypto’s in Donation to Support Small Businesses

The crypto community has donated more than $1 million to Dave Portnoy’s The Barstool Fund.

The Fund has raised a total of about $6.343 million from 59,830 supporters and has already helped 18 small businesses.

From the crypto community, trader Mason Riley donated the highest amount $250k and crypto exchange Gemini founders Tyler and Cameron Winkless donated $200k.

Crypto investment firm CMS Holdings made $102k in crypto donations and Jason A. Williams, author of “Bitcoin: Hard Money You Can't F*ck With” contributed $100k. Anthony Pompliano, co-founder of Morgan Creek Digital donated 2 BTC which was worth $50k on Christmas day.

Anonymous traders @Cryptowhale and @Milkman2228 donated $50k and $25k respectively while David Gokhshtein, member of Forbes Finance Council, did $10k. An anonymous donor donated $55,000 in Zcash to the fund. Besides these whale donors, $216k also came from the crypto community.

The Fund currently supports 12 crypto assets in total: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC), Zcash (ZEC), Basic Attention Token (BAT), 0x (ZRX), STORJ, DAI, Gemini Dollar (GUSD), and AMP.

Just before last weekend, Dave Portnoy introduced The Barstool Fund to help small businesses in need of help due to the coronavirus pandemic.

This week, Portnoy took to Twitter to share that Winklevoss twins donated $200k to the fund unsolicited and called out Pomp and Williams to step up and make some donations as well.

In turn, Bitcoin proponent Pomp asked Portnoy to set up a Bitcoin wallet on the Funds page for the crypto community.

“@stoolpresidente is finally ready to atone for his sins and weak hands. We're setting up a Bitcoin wallet through @TheGivingBlock to help raise money for small businesses via the Barstool Fund,” tweeted Pomp on Christmas Eve.

As per the Funds page, donating crypto directly to a 501-c3 non-profit offers better tax efficiency than cash as the IRS classifies cryptocurrency as property for tax purposes.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide