Barstool Sports Founder Dave Portnoy Talks About Bitcoin and SafeMoon
Barstool Sports founder Dave Portnoy recently bought back his media outlet for just $1 and has expressed interest in adding Bitcoin to the company’s balance sheet. Here are the key points:
- Portnoy repurchased Barstool Sports after Penn Entertainment initially acquired a majority stake in the company for $163 million.
- Penn later bought the remaining interest for $388 million, but faced financial losses and regulatory concerns.
- Portnoy tried to convince Penn CEO Jay Snowden to add Bitcoin to Barstool’s financial records in the past.
- Portnoy clarified that he had no monetary affiliation with SafeMoon despite being part of a lawsuit over its promotion.
- Barstool’s buy-back decision allows it to operate without regulatory oversight and opens the possibility of integrating Bitcoin into their operations.
Despite past controversies, Portnoy remains bullish on cryptocurrency and sees the potential in adding Bitcoin to Barstool’s balance sheet. While his involvement with SafeMoon may have been controversial, Portnoy’s focus seems to be clearer now.
Hot Take: Dave Portnoy’s interest in Bitcoin and desire to add it to Barstool Sports’ balance sheet reflects the increasing adoption of cryptocurrency in the corporate sector. It remains to be seen how this move will impact the future of Barstool and its relationship with the crypto world.
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