Dave Portnoy is arguably among the most influential and somewhat controversial heritage market traders on the market.
Portnoy made significant headlines a month after stating the legendary investor Warren Buffett is “washed up.” He’s frequently been submitting movies where he’s encouraging the virtue which stock markets “always go up” and, occasionally, asserting that he’s making money off stocks he didn’t even know he possessed.
Now, this poster-child of the day-trading flourish, says he’s “coming to Bitcoin.” And he’s upwards of 1.7 million followers .
Dave Portnoy and The Winklevoss Twins
Yesterday, Portnoy published a movie where he invited the founders of Gemini – a renowned cryptocurrency exchange, the Winklevoss Twins, to describe Bitcoin in detail .
Soon afterwards, Tyler Winklevoss tweeted that the invitation is approved.
Nowadays, in a real Portnoy manner, the influencer doubled-down:
Dear @Bitcoin individuals. I’m coming. pic.twitter.com/EkVdJeJd8S
— Dave Portnoy (@stoolpresidente) August 5, 2020
Obviously, it’s completely possible that Portnoy isn’t actually intent on beginning his foray in to Bitcoin and cryptocurrencies, but it’s definitely something worth contemplating.
Robinhood Army Coming to Bitcoin?
It’s no secret that influencers and their large following can affect the price of an advantage. The latest instance of this is Dogecoin.
As FintechZoom reported previously in July, Dogecoin jumped by over 100% in under a few days. The cause of this wasn’t credited to complicated technical or fundamental indicators.
Rather, someone on TikTok encouraged his followers to purchase the token on the count that it’s virtually useless, and when they spent a little sum then, it’d be worth a fortune in case the coin strikes $1.
That’s only one instance of retail curiosity driving a huge growth from the price of the advantage. Another example came in the heritage marketplace when Hertz stock pumped 1000% after filing for bankruptcy. Reports indicate that at least 160,000 Robinhood traders possess the stock.
Whether Portnoy arrives to Bitcoin or not is something we’ve to see, however if something true it’s that he’s a huge following that may, possibly, affect the price.
Featured picture courtesy of Company Insider
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