Dave Portnoy has made $1million from Donald Trump’s new cryptocurrency coin – and put his winnings on a massive Buffalo Bills bet.
Trump’s new ‘$TRUMP’ coin, which was launched on Friday night, cost Portnoy $24.80 a share as he purchased $500k worth of the crypto.
And early on Sunday, the Barstool Sports boss revealed that he had already profited $1million from the transaction.
‘I just woke up. Checked $trump coin. I’m up 200% since I bought it yesterday,’ he wrote on X. ‘Sold it. Made a quick milly. Prob gonna put it on the Bills tonight. I love Trump’s America! Now I’m going back to sleep.’
In a subsequent video, Portnoy revealed that he was actually betting on the Bills to go the distance and win the Super Bowl at +550 odds, which would make him $5.5million if successful.
He claimed that Josh Allen and Co. are ‘f***ing due’ to win the franchise its first championship, and his bet is still alive after Buffalo beat the Ravens 27-25 in a thrilling divisional round clash.
Dave Portnoy has made $1million from Donald Trump’s new cryptocurrency coin
Trump announced the coin, ‘$TRUMP’, on Friday night ahead of his inauguration
Portnoy’s $1million in profit was placed on Josh Allen and the Bills winning the Super Bowl
The Bills will now face the Chiefs in the AFC Championship Game, while the Commanders or Eagles would await in the Super Bowl.
The Bills have lost their last three playoff matchups against Kansas City.
Trump, who will be sworn into office for a second time on Monday, announced his ‘memecoin’ on Friday night to his X followers.
‘My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!,’ he wrote.
‘Join my very special Trump Community,’ he wrote on X. ‘GET YOUR $TRUMP NOW. GO to gettrumpmemes.com — Have fun!’
On Saturday, Portnoy was one of many NFL fans left incensed by the officiating in the Chiefs-Texans game, as he accused the referees of ‘cheating.’
‘The good news is the Texans are dominating and their defense is flying around. The bad news is the refs are cheating and they are losing,’ he wrote on X.
Portnoy’s post came after a controversial decision to penalize Houston’s Will Anderson Jr. for roughing the passer after he hit Patrick Mahomes a split-second after he threw a pass in the first half.
The Chiefs wound up winning fairly comfortably as they notched a 23-14 victory to reach their seventh consecutive AFC Championship Game.
