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Barstool Sports president Dave Portnoy has been amassing a notable following throughout the past few weeks due to his stock trading live streams – and now he wants in on Bitcoin.
Despite previously questioning Bitcoin’s status as an investment, the eccentric trading personality now wants exposure to the digital currency’s immense volatility.
In a recent live stream, he asked the Winklevoss twins – early Bitcoin adopters and founders of the popular Gemini cryptocurrency exchange – to come to his office and teach him about BTC.
Portnoy’s interest in the cryptocurrency may help usher in the next wave of retail traders and investors to the nascent market.
Dave Portnoy Extends Office Invitation to Winklevoss Twins to “Explain Bitcoin”
Portnoy, who has described himself as the next Warren Buffett, has built a massive army of loyal – and mostly young – day traders who closely follow his every move.
Part of his popularity has stemmed from his high strike rate when it comes to placing stock market trades. On certain occasions, his calls alone have moved stock prices based on the breadth of his following.
Portnoy is one part of an emerging trend in which individuals use retail-friendly platforms like Robinhood to trade equities.
In recent times, this has proven to be a highly lucrative and fast-paced activity due to the strong uptrend that the stock market is currently caught within.
Although Robinhood offers users access to Bitcoin and other cryptocurrencies, these traders have yet to foray into the crypto market.
This may soon change, however, as Portnoy is now looking to learn more about Bitcoin – and he has enlisted the Winklevoss twins to help.
“I’m officially inviting the Winklevi twins to my office to explain bitcoin to me. Have to wear the rowing outfits though,” he announced.
I’m officially inviting the Winklevi twins to my office to explain bitcoin to me. Have to wear the rowing outfits though. #DDTG https://t.co/owQr0aZVdn
— Dave Portnoy (@stoolpresidente) August 4, 2020
Will Portnoy’s Potential Crypto Trading Foray Boost BTC?
Because Portnoy’s army of day traders likely have access to purchasing and trading Bitcoin through platforms like Robinhood or CashApp, the barrier to gain exposure to the digital asset is now quite low.
If he does start trading and investing in BTC, it could ignite a new wave of retail adoption for the cryptocurrency.
After the Winklevoss twins accepted the invitation, he further added that he wants to “buy all the bitcoins.”
Let’s do it. I want to buy all the bitcoins. https://t.co/37voOpKXPi
— Dave Portnoy (@stoolpresidente) August 4, 2020
Watching how this plays out in the coming weeks will be quite exciting, and Portnoy’s massive – and continuously growing – influence could provide Bitcoin with a serious boost.
Featured image from Unsplash.
