Financial Insights That Matter
Jan 20, 2025 12:32 PM IST
Dave Portnoy invested in the Trump meme coin out of a fear of missing out. Now, he’s banked a million dollars, which he intends to bet on a team for profit.
Barstool Sports founder Dave Portnoy has made a quick milly, all thanks to President-elect Donald Trump’s new cryptocurrency meme coin, $TRUMP. The controversial figure initially invested $500,000 in the entity, which he eventually sold. Waking up to a massive profit, he took to X on Sunday morning, “I just woke up. Checked $trump coin. I’m up 200% since I bought it yesterday. Sold it. Made a quick milly. Prob gonna put it on the Bills tonight. I love Trump’s America! Now I’m back to sleep.”
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Controversial figure Dave Portnoy banks a million dollars through Trump’s crypto meme coin
Portnoy later confirmed in a follow-up post that he ended up betting on the Bills to win Super Bowl 2025 so that he could potentially reel in a heftier profit. Having gained the $1 million earlier, he placed the amount the Bills bet at +550 odds for a $5.5 million profit. “I made a quick million bucks from 5 PM to like 5 am,” he said in a video. “I’m up a million, cash out. Now I’m plus-a-milly. What do you do when you’re plus-a-milly? I’ll tell you what you do. Let’s go Buffalo. They are f–king due.”
“Tell me something more American than turning 500 grand into $1.5 million — $1 million profit. Taking that one-milly profit and putting it on the Buffalo Bills to win their first Super Bowl ever. Well that’s what I did.”
Dave Portnoy attributed his initial action of buying the Trump crypto coin to the fear of missing out after the Republican president-elect announced it on Friday night. “Cause I have [fear of missing out on s–t coins],” the Barstool Sports head wrote online.
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Melania Trump joins Donald in the crypto meme coin business
Following Trump’s announcement, his wife, Melania, did the same on Sunday. Despite not even existing hours ago, the MAGA leader’s cryptocurrency launch has since made over $50 billion. The profits from the coin have only aided the US politician in gaining the upper hand in the global group of the wealthiest elites. MELANIA’s meme coin business is further adding to the family’s crypto billionaire pool.
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