Home Bitcoin News Bitcoin Scam Dave Portnoy Disasgrees with Donald Trump That Bitcoin is a Scam

Dave Portnoy Disasgrees with Donald Trump That Bitcoin is a Scam

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The CEO and founding father of Barstool Sports activities – Dave Portnoy – admitted that firstly, he thought Bitcoin was a ”Ponzi scheme.” Finally, he modified his stance and even opposed Donald Trump, who known as the first cryptocurrency a ”rip-off.”

Trump Is Incorrect

In a current interview for ”Varney & Co,” the founding father of Barstool Sports activities – Dave Portnoy – shared his present view on bitcoin and the crypto market. He revealed that years in the past, when the first digital asset was launched, it regarded like a ”Ponzi scheme” to him, however later he began realizing its advantage:

”I assumed when Bitcoin was first launched and for a very long time that it was a Ponzi scheme. I’ve come round on it. It’s too broadly accepted, there are too many individuals utilizing it, too many massive individuals imagine in it, too many shops accepting it. There’s liquidity. You may get out and in of it simply.”

Just lately, the ex-US president Donald Trump mentioned Bitcoin appears like a rip-off and backed up the greenback because the ”world’s foreign money.” Portnoy opposed Trump despite the fact that he additionally had his doubts in regards to the asset in its first years :

”I don’t know what it began as, however I actually wouldn’t say it’s a rip-off now.”

Afterward, the founding father of Barstool Sports activities commented on the current decline of the crypto market. He raised hopes that quickly sufficient, digital property will enhance their fiat foreign money worth. In his opinion, buyers needs to be affected person with them and maintain on ”for the lengthy recreation:.”

”Crypto isn’t going anyplace but it surely’s laborious to brag about how nice all the things goes if you find yourself down 50%.”

Portnoy’s Change of Coronary heart

In September 2020, Portnoy identified that bitcoin lacks accountability because of the anonymity of Satoshi Nakamoto. In consequence, if buyers find yourself dropping cash or being scammed, they would favor to know who’s the particular person behind the complete operation. He went even additional, calling it ”one massive Ponzi scheme.”

It’s price mentioning that in some unspecified time in the future, Dave Portnoy invested within the major digital asset. He tweeted a few lack of $25,000 and acknowledged that he at the moment owns zero bitcoins. Moreover, he vowed to work together with the inventory market reasonably than the crypto one:

”I don’t want this. I understand how the inventory market works. I personal the inventory market. This Bitcoin – I don’t belief this market in any respect.”

In any case, it now appears that he has modified his stance on the first cryptocurrency and he even flat-out mentioned that he was incorrect about it.


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