Bad Bitcoin Bettor Dave Portnoy Rages Over SafeMoon Lawsuit

Barstool Sports founder Dave Portnoy claims he is being sued by SafeMoon investors.

In a bizarre video posted to Twitter on Monday, the internet celebrity confronts a man who he says knocked on his door early in the morning to inform him of a lawsuit. In the video, Portnoy asks the man, “How many times did you knock on my door for this shit?”

He said the visitor had been “pounding on my door at 8am for 10 minutes straight”. He also posted a photo of the subpoena document.

“For the millionth time I didn’t get a nickel from Safemoon,” he wrote. “I told people it might be a scam before I invested.”

SafeMoon is a cryptocurrency that taxes transactions and redistributes tokens to holders. It runs on the Binance Smart Chain, the blockchain created by the world’s largest crypto exchange, Binance.

SafeMoon was popular last year – along with many other “alt coins” – and its price increased as people pumped it on social media.

Portnoy, who calls himself the “Baron of Bitcoin,” invested $40,000 in the asset last year. He then called it’s his “favorite shitcoin”.

But investors have since lost interest in the token: it is currently trading at $0.0003972, down 88.5% from its record high in January, according to CoinMarketCap.

Portnoy now says investors will sue him for pumping the coin, writing on Twitter: “Thought I was under attack. No, I told myself I was being sued for schilling [sic] safemoon. I am [sic] only guy who loses all his money in safemoon and gets sued for it, he added.

Portnoy also posted a photo of his SafeMoon balance, which appeared to be $2,370.94: “I haven’t made any withdrawals,” he said.

Decrypt attempted to get more information from Barstool Sports about the subpoena, but did not immediately receive a response.

Portnoy has been outspokenly funny about his bad cryptocurrency investments. He bought $1 million worth of Bitcoin in 2020 when the price was $11,500 – but then sold it just weeks later when the price dropped, for a loss of $25,000.

“I fucking Bitcoin,” he so at the time.