Dave Portnoy On How His SafeMoon Promo Video Is Different Than What Elon Musk Is Doing

Barstool Sports Founder Dave Portnoy appeared on the Fox Business show "Varney & Company" Wednesday for an interview.

Host Stuart Varney showed a recent tweet from Tesla Inc TSLA CEO Elon Musk and said he thinks Musk is manipulating the market.

"I think you are doing exactly the same thing," Varney said to Portnoy.

Tesla has 💎 🙌

— Elon Musk (@elonmusk) May 19, 2021

There's no doubt Musk is manipulating the market, Portnoy said, adding: "I wish I could to the degree he does." 

The difference is that Musk goes back and forth, Portnoy said.

Varney then asked Portnoy about the recent video he released on SafeMoon, a widely popular cryptocurrency that debuted in March.

My shitcoin announcement. Invest at your own risk. I have no idea how this works pic.twitter.com/G1iW8iZTWG

— Dave Portnoy (@stoolpresidente) May 17, 2021

The video is blatant pumping, Varney said. 

"If the crypto market were regulated, you wouldn't be allowed to do that."

Portnoy agreed that he is pumping SafeMoon in the video, adding that he has no plans to "dump," or sell, his position in the foreseeable future.

Portnoy added that he likes the concept behind SafeMoon, in which every time someone sells, coins are redistributed among long-term holders of the cryptocurrency. 

Related Link: Dave Portnoy Wants To Become A Leader In Safemoon With $40K Investment: 'Invest At Your Own Risk'

Photo by Zach Catanzareti Photo from Flickr.