Barstool Sports founder Dave Portnoy has viewed his purchase of SafeMoon (SAFEMOON) crash by over 94%, showing to crypto enthusiasts that he’s, actually, able to hodling throughout the bear market.
The stock trader and media personality required to Twitter on Monday to lament his $40,000 purchase of the memecoin, that has fallen to simply $2,370.94 after he didn’t withdraw just one token. “Still holding incidentally,” Portnoy stated. “Diamond hands.”
I put 40k into @safemoon I haven’t withdrawn any. It isn’t worth 2.3k. And I’m being sued. https://t.co/qRAyBegQMm
— Dave Portnoy (@stoolpresidente) August 8, 2022
Portnoy claimed that he’s also being sued by SafeMoon, possibly for “trashing” the work on his show, but didn’t elaborate much further. Inside a separate tweet, Portnoy shared a screenshot of SafeMoon’s sales director expressing displeasure using the Barstool Sports frontman for giving the organization “a bad look and unfair representation.” Portnoy “mentioned his SafeMoon losses on air but unsuccessful to say he hasn’t upgraded his holdings to V2 yet,” the manager stated.
And don’t forget forget when @safemoon themselves were not impressed with me trashing them. pic.twitter.com/1Fg2i9lijC
— Dave Portnoy (@stoolpresidente) August 8, 2022
Portnoy isn’t any stranger to cryptocurrencies, getting bought Bitcoin (BTC) in August 2020 simply to market it 1 week later because of volatility. He later expressed regret over his insufficient conviction and continued to create several additional bets on cryptos, which incorporated SafeMoon.
Related: Dogecoin founder speaks out against ‘meme coins’
So far as prices go, SafeMoon is lower over 99% from the all-time a lot of $.00001399 in April 2021, based on CoinMarketCap. The gold coin includes a lifetime roi of negative 86%.
SafeMoon was audited in May 2021 by blockchain security firm HashEx. At that time, the firm identified 12 smart contract vulnerabilities, together with a “temporary possession renounce” that managed to get especially vulnerable to an area rug pull.
