Following his recent purchase of Bitcoin (BTC), Barstool Sports CEO Dave Portnoy appears to be deepening his interest in cryptocurrencies, this time calling for a bold pump and dump of the Orchid Protocol token during a live stream on August 17.
- Portnoy called for a pump and dump of tokenized bandwidth asset OXT (at approximately 23:30 in the stream)
- Says “he doesn’t know what it is”, and bought it on the recommendation of other public investors
- He directly asks viewers to pump and dump the token, an act that would be risky within traditional markets
- OXT reached a near ATH right hours before Portnoy’s stream
- Portnoy was convinced by the Winklevoss twins to enter the crypto market, purchasing $200,000 worth of BTC and $45,000 worth of Chainlink (LINK)
- Portnoy was sponsored by crypto lending startup BlockFi, which was promoted to viewers