Barstool Sports founder Dave Portnoy, who admitted to once being skeptical of Bitcoin, discussed the future of the cryptocurrency amid its recent slide, noting that he believes the crypto is “here to stay.”
Barstool Sports founder and CEO Dave Portnoy says he 'certainly' wouldn't say Bitcoin 'is a scam now,' reacting to former President Trump's description of the cryptocurrency. on the cryptocurrency SafeMoon with Varney. He stated in a video that he had purchased $40,000 of the coin and told Varney that he planned on holding on to it for years.
Portnoy said back in May that he'd done a bit of research and liked the "concept of SafeMoon" before purchasing the crypto, noting that, since then, it has been "a wild ride." On Friday, he admitted that he "took a bath on SafeMoon" and gets the skepticism surrounding smaller coins. He told Varney on Friday that he still holds SafeMoon, but has more confidence in Bitcoin. "It’s not going anywhere," he added. "Too many big players are in."
Portnoy admitted that he hasn’t figured out Bitcoin and other cryptocurrencies, but he has figured out the appeal.
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