Dave Portnoy, the founder and president of Barstool Sports, who invested $50,000 in decentralized oracle framework Chainlink’s LINK token on Thursday (August 13), seemed excited earlier today as LINK broke through $19 to a new all-time high.
On Thursday, Portnoy sent out a tweet with an attached video that showed him buying Bitcoin (BTC) and Chainlink (LINK) with the help of the Winklevoss twins—the co-founders of crypto exchange Gemini—who had accepted Portnoy’s invitation and come to his house to explain Bitcoin to him and show him how to buy crypto:
Portnoy starts the video by saying that he has deposited $250,000 into his Gemini account.
Although we can’t see the screen of Portnoy’s laptop, it does appear from the conversation he is having in the video that he invested 80% of his $250K in Bitcoin and 20% in Chainlink’s native token LINK.
What makes Portnoy’s interest in crypto significant is that he is the the leader of an army of day traders on U.S. trading platform Robinhood and that his promotion of cryptoassets could help to increase their adoption by his over 1.7 million Twitter followers (many of whom are U.S. millennials).
Later on the same day, Tyler Winklevoss, the CEO of Gemini, tweeted about the fact that Portnoy had become a LINK “marine” (i.e. LINK HODLer):
Portnoy bought his LINK tokens on August 13 at a time when LINK was trading around $18, which looked to some people as not a particularly great entry point given that LINK had started the year at $1.76, i.e. had already recorded a gain of 922% against USD.
But it seems like Chainlink is still on fire since, according to CryptoCompare, currently (as of 14:42), it is trading at $19.22, up 16.19% in the past 24-hour period:
Well, around 13:50 UTC today (August 15), when Chainlink’s native token was trading as high as $19.38, Portnoy, voiced his enthusiasm for Chainlink’s amazing performance by sending out the following tweet:
Prominent crypto analyst and trader Josh Rager, who started investing in Chainlink once LINK reached $9, tweeted a few minutes ago:
Featured Image by “xresch” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
