From Bitcoin to ‘Shitcoin’ Dave Portnoy’s Next ‘Pump & Dump’ Target is Easy to Find
Yes! Dave Portnoy has already made a 180k — from bitcoin to shitcoins.
It was only last week that Barstool Sports president bought about $1 million worth of Bitcoin, and he has already got the hang of how the crypto market works.
Better yet, unlike the traditional market that has SEC oversight, the crypto market offers the ideal space to pump and dump the digital assets.
Everyone knows you don’t say what crypto you’re about to buy until you’ve cryptonized it. #DDTG pic.twitter.com/LFAqzkkkmC
— Dave Portnoy (@stoolpresidente) August 17, 2020
“The thing I like about pump-and-dumps in crypto is it’s encouraged,” he said. “In crypto, you can pump and dump all day long.”
Portnoy is taking shilling crypto to a whole new level and fast. It seems improvised, but I bet he's been preparing his crypto marketing campaign for a while.
— Alex Krüger (@krugermacro) August 17, 2020
Interestingly, it is easy to know his next pump and dump target as he is using the cryptocurrency exchange Gemini, founded by Winklevoss brothers, to trade cryptos.
“Not that many options to choose from … remember, Portnoy is a paid Gemini/Blockfi shill,” said trader and economist Alex Kruger. “Portnoy is going to turn Gemini into a sh*tcoin powerhouse,” he added.
Gemini doesn’t have many coins to choose from. Against the USD, there are only nine cryptos available viz. BTC, ETH, LTC, BCH, ZEC, BAT, LINK, DAI, and OXT.
BAT is seen as Portnoy's next coin, given that it is up over 30% since Sunday.
“King of Bitcoin” gets into Shitcoins
The 43-year old started his BlockFi sponsored Davey Day Treader stream yesterday by claiming that he was up more than $100,000 on his Bitcoin investment after a week.
Calling himself the “King of Bitcoin,” Portnoy said, “At this rate, I’ll make a million dollars a month in Bitcoin.”
But soon, he turned to altcoins with Chainlink (LINK) and Orchid (OXT).
LINK is a popular altcoin in the crypto market, known for hitting new highs every other day, which was introduced to Portnoy last week by Winklevoss twins. Calling himself a “huge Link Marine,” he said, “I fuckin’ love it,” adding, “I think I’m $300,000 of one, and that thing just rips.”
Over the weekend, he shilled LINK to the moon, which pushed the fifth-largest cryptocurrency by market cap to nearly $20. But it has since then made a correction.
“Rest assured my fellow #linkmarines we will make whoever dumped link pay,” tweeted Portnoy today.
He then brought ”shitcoin” Orchid (OXT), purchased via Gemini into the mix, which has surged over 225% in the past month.
“It’s like a fucking little wimpy coin, and we’re gonna push OXT to the fuckin’ moon… that’s a little cheap-ass Bitcoin,” said Portnoy. “Go buy OXT. Get in on it, and then get out on it. Let’s fuckin’ pump and dump it.”
ya'll got pumped and dumped by portnoy, and the best thing is he blatantly admitted he was gonna do it and you all still fell for it.
peak retard lol
— 👨🌾Farmer Bluntz👨🌾 (@SmartContracter) August 17, 2020
The coin jumped over 20% within minutes to come crashing back down shortly. “Just plain naive if you think he wasn't the pump 2 days prior, him announcing he was buying was his exit strategy,” said trader Smart Contractor.week.