How Much is Barstool’s David Portnoy $40,000 Safemoon Investment Worth Now?


Elon Musk is known to cause many crypto commotions on Twitter, but another celebrity who speaks his mind is David Scott Portnoy, also known as Davey Day trader (Sports and Pop culture Blog “Barstool” sports founder). Mid May this year, Portnoy announced his investment in “sh*tcoin” SafeMoon.

The 44-year-old invested $40,000 US claiming he wanted to try something beyond Bitcoin.

In a tweet, he wrote,” The events of the last couple days and weeks have made me think: I have to get involved in something beyond Bitcoin. I see what Elon does. He’s pulling levers, so one day, doge is good, next it’s terrible: Bitcoin good, Bitcoin bad”. He also went ahead and added that his followers should invest at their own risk as he had never done it before”.

A couple of months down the line and we want to find out whether he landed on the moon or not. First, let us answer a few questions.

What is SafeMoon?

Created this year in March, SafeMoon is a cryptocurrency on the Binance Smart chain blockchain. With SafeMoon, 10% is charged on transactions made, split equally between token holders and wallets in a different currency.

Like Shiba Inu and Dogecoin, SafeMoon has received criticism (both negative and positive).

On the bright side, just like any other cryptocurrency, it has had its highs. On 20th April, it hit a high of $0.00001375.

The broader market flopped mid-May, with Bitcoin going down by 30% and ethereum by 38%. A few weeks later, cryptocurrencies started getting back on their feet, but SafeMoon, on the other hand, kept falling.

According to optimistic analysts, there is hope for SafeMoon. Predictions claim that by the end of 2028, the cryptocurrency could reach a high of $0.00003074.

By the end of 2021, SafeMoon says it is making moves to be available on Mandala and Binance.

Back to David Scott Portnoy $40,000 Investment

David’s investment started with $40,000 and is now at $7,165; hence he lost 82%of his investment but guess what, he is still a crypto billionaire. His investment is now worth 4.56 billion SafeMoon tokens.

In April, Portnoy sold all his dogecoins to buy one Bitcoin after he vowed never to buy them. After purchasing the Bitcoin, he made another vow never to sell his one Bitcoin. Will Dave keep the promise? It is important to note that the dogecoins he sold were highly-priced when he purchased them.

The Barstool founder had initially invested more than $200k in Bitcoin, LINK, and OTC. When the prices fluctuated, he felt insecure and sold all his coins, vowing never to invest in Bitcoin. He, however, changed his mind. His SafeMoon investment stirred online debates.