Barstool Sports' Dave Portnoy says he has picked SafeMoon (SAFEMOON-USD) as a cryptocurrency he will back. "It's time for me to choose a side. I’m gonna pick one and I’m gonna become a leader," stated Portnoy on Twitter. The Barstool founder and large Penn National Gaming ([[PENN]] -1.0%) stakeholder says he has invested $40K in the obscure cryptocurrency, while also maintaining that he will stick with his Bitcoin position. Portnoy also noted that SafeMoon could be a Ponzi scheme, but he likes the word "moon." SafeMoon has moved up about 20% on the day on 24-hour volume of over $36M. SafeMoon is currently trading with a market cap of $5.32B. Watch Portnoy's press conference. Earlier today, Penn was one of the casino stocks called out as a sports betting standout by Bank of America.
