On February 8, 2025, the crypto world got a jolt of chaos and charisma when Dave Portnoy, the larger-than-life founder of Barstool Sports, threw his weight behind a quirky Solana-based meme coin called Jailstool. Known for his unfiltered takes and a loyal following of millions, Portnoy didn’t just dip his toes into the crypto trenches—he cannonballed in, sparking a wild ride that would see Jailstool’s market cap explode, crash, and leave the internet buzzing. Here’s how it all went down.
The Prelude: Portnoy’s Crypto Curiosity
Portnoy’s foray into Jailstool wasn’t his first brush with meme coins. Just a day earlier, on February 7, he’d been dabbling in other Solana-based tokens, gleefully tweeting about turning a small investment into a hefty profit. “Uh oh. Davey learned how to trade shitcoin and is already up a billion percent on my 1st one!!!!!!” he posted, reveling in the absurdity of it all. His antics with coins like “Montoya por favor” had already caught attention, pumping that token to a $14 million market cap before it crashed hard. Critics were quick to cry “pump-and-dump,” but Portnoy shrugged it off, unfazed by the backlash.
Then came Jailstool—a coin that seemed tailor-made for his persona. Officially dubbed “Stool Prisondente,” it was a playful jab at his X handle,
@stoolpresidente, with a ticker that suggested he’d landed behind bars for his crypto escapades. Far from being offended, Portnoy found it hilarious. “Hey crypto bros, I think whoever made this coin is funny and I want to collect it as a memory of you bitches crying like little babies,” he tweeted at 4 PM ET, alongside a screenshot showing he’d snagged 57.16 million tokens for about $378.
The Surge: From Obscurity to Overnight Sensation
What happened next was pure Portnoy magic. With his 3.5 million X followers and a knack for turning anything into a spectacle, he didn’t just buy Jailstool—he evangelized it. That Saturday night, he hosted a late-night X Space, rallying his audience for hours. “Here is the deal. If we get #jailstool to #1 trend on Twitter by the next 20 minutes, I’ll stay up. If not, I’m going to bed,” he challenged. The community delivered, flooding X with posts until #jailstool hit the top spot in under 20 minutes.
The effect was seismic. Jailstool’s price skyrocketed, surging an astonishing 119,000% in less than five hours. By early Sunday morning, February 9, its market cap had ballooned to over $220 million, with the token peaking at $0.2179. Portnoy, bleary-eyed but exhilarated, kept the hype train rolling. “I have no plans on selling anytime soon,” he posted at dawn. “I’m waiting for a 500 milly market cap before even thinking about it. But I need my sleep. Goodnight everybody. Sweet dreams, Cyber Rome.”
The Mania: Whales, Warnings, and Wild Promises
As the sun rose, Portnoy’s commitment deepened. He skipped Super Bowl parties to stay in bed “pumping Jailstool,” joking, “I was invited to SI Party, GQ Party, 11 Party, etc. and there is no place I’d rather be than laying in bed in the dark right now.” He doubled down with bold promises: no selling until a $1 billion market cap, and a pledge to reinvest up to $1 million of his own money as it grew. “I’m not going anywhere. 500 million market cap or bust,” he assured followers.
The frenzy peaked when a whale investor dropped $7-8 million into Jailstool, briefly making them the top holder. “That’s fucking nuts,” Portnoy marveled. “Hopefully, he is a good whale like Willy and not a dickhead whale.” Meanwhile, he warned his fans: “Buy at your own risk. I just bought it. I’m gonna sell it. Don’t buy what ya can’t lose.” It was vintage Portnoy—transparent, chaotic, and unapologetic.
The Aftermath: A Rocket’s Rise and a Reality Check
By Sunday afternoon, Jailstool was a crypto sensation, listed on exchanges like Kraken and hitting a high of $238 million in market cap. But meme coins are volatile beasts, and the cracks soon showed. After Portnoy’s all-night hype session, the price began to wobble. Within 24 hours, it dropped 73% from its peak to $0.03414, as profit-takers and skeptics cashed out. Accusations of manipulation flared up again, with some calling it another pump-and-dump. Portnoy fired back in a video: “I turned like 10 grand total into like 75 grand… Do you go to jail for this? Can I not do this?”
Despite the dip, he stayed defiant. “I may dump it eventually, but I’ll let all you righteous losers dump on each other first,” he told his followers, framing Jailstool as a short-term thrill ride rather than a long-term bet. For Portnoy, February 8 wasn’t about building a crypto empire—it was about leaning into the absurdity, flexing his influence, and having a damn good time.
The Legacy: A Day of Hype and Hard Lessons
That wild Saturday marked the moment Dave Portnoy officially became a meme coin kingpin. Jailstool’s meteoric rise showcased his ability to move markets with a single tweet, but its stumble reminded everyone of the risks. For his fans, it was a rollercoaster of gains and losses; for critics, it was proof of crypto’s reckless side. Either way, Portnoy walked away grinning, proving once again that in his world, chaos is currency—and he’s got plenty to spend.
As the dust settled, one thing was clear: February 8, 2025, was the day Dave Portnoy turned Jailstool into a crypto legend, for better or worse. Whether it hits that billion-dollar mark or fades into obscurity, it’s a story only he could write.
