In May, Dave Portnoy, founder of Barstool Sports, announced his entrance into the “sh*tcoin” space with a $40,000 investment in SafeMoon SAFEMOON/USD.
Since then, the cryptocurrency market has been on a tumultuous path back to a $2 trillion market cap.
But is Dave safely on the Moon yet?
While Bitcoin BTC/USD, Ethereum ETH/USD, Cardano ADA/USD, and many other crypto projects have seen their tokens taking off recently, Portnoy’s SafeMoon hasn’t fared quite as well.
You could pick up 1,000,000 SafeMoon tokens for around $7 at the time of Portnoy’s announcement. Today, you can be a SafeMoon millionaire for just over $2.
On August 18, Dave confirmed on Twitter that he has diamond hands and is still holding his 4.56 billion SafeMoon tokens.
While Dave may have started with $40,000, his bag is now worth a whopping $7,165.
— Dave Portnoy (@stoolpresidente) August 18, 2021
Portnoy’s SafeMoon shenanigans cost him $32,835, but at least he can say he’s a crypto billionaire.