It's not a bad way to make some quick money.
Or a million.
Barstool Sports founder Dave Portnoy initially invested $500,000 to buy President-elect Donald Trump's new cryptocurrency meme coin $TRUMP, and later made $1 million by selling it. claims.
“I just woke up” Portnoy I wrote to X early Sunday morning. “I checked the Trump coin. It's up 200% since I bought it yesterday. I sold it. I made a millimeter right away. I'm probably going to put it on Bills tonight. I love President Trump's America! I'm going to see it again now. I’m going to sleep.”
On Sunday night, the Bills host the Ravens in the AFC Divisional Round.
Portnoy admitted in a later video that while he did bet on the Bills, he placed an even higher stake to win the 2025 Super Bowl.
He bet $1 million on the Bills at +550 odds for a potential profit of $5.5 million.
“From about 5 p.m. to 5 a.m., I made a million dollars in no time,” Portnoy said in the video. “I made a million dollars, cash out. Now I'm a plus milli. What do you do when you're plus a milli? Let me tell you what you do.” Let's go to Buffalo. The deadline is fast approaching.
“Tell me what's more American than turning 500 grand into $1.5 million, or $1 million in profit, and putting that million in profit to the Buffalo Bills and helping them win their first ever Super Bowl. Well, that's what I did.
Portnoy said he originally purchased $500,000 worth of $TRUMP through the Kraken exchange at $24.80 a share.
“I officially purchased $500,000 of Trump coins.” Portnoy wrote. “Why? Because I have [fear of missing out on s–t coins]”
President Trump announced a new cryptocurrency coin on Friday night.
“My new official Trump meme is here! It's time to celebrate everything we stand for: victory! Join my special Trump community. ” he wrote to x. “Get your $TRUMP now. Visit gettrumpmemes.com — enjoy!”
Trump and his companies made more than $50 billion from the coin, According to Axios.
President Trump's wife, first lady Melania Trump, announced her own cryptocurrency, Meme Coin, on Sunday.
