Barstool Sports founder and President Dave Portnoy bought $1 million in Ripple’s XRP on Monday, along with $750,000 in Bitcoin (BTC) and $400,000 in Ethereum (ETH).
Portnoy’s $2 Million BTC, ETH, XRP Purchase
“So in total, last night, a million dollars of XRP, 400 ETH, 750 BTC. Blood in the streets,” Portnoy told his 3.7 million followers in a video shared on X. The outspoken personality called himself a “Great White Shark” for buying while the crypto market is in a bloodletting.
The price of XRP has skyrocketed by over 400% since Donald Trump’s White House win in November 2024, spiking in part due to increased regulatory clarity in the United States and hopes that spot exchange-traded funds based on the cryptocurrency will unlock billions in institutional capital.
At Consensus 2025, Portnoy revealed he didn’t have “some grand belief” in XRP; he acquired it out of FOMO, just in case it turned into the next Bitcoin.
Then in July, Portnoy shared on his X account that he had sold off his XRP stash before the popular Ripple-promoted crypto hit an all-time high, breaking the record set back in 2018. He revealed he had sold his XRP at $2.40, as the person who had urged him to purchase the token had informed him that Ripple would face serious competition from USDC stablecoin issuer Circle.
After his sale, XRP went on to rally 60% to reach a new high of $3.65 per coin. The Barstool founder said he “would’ve made millions” if he had just held onto his massive XRP stack.
On Monday, the crypto market experienced a major wave of selling pressure, with Bitcoin slumping below $90,000 for the first time since April, while XRP plummeted under $2.10. Despite the devastating market wipeout, Portnoy emphasized he is currently in HODL mode.
“A little dip in the market. I’ve been hold, hold, hold, Braveheart, hold, hold, hold,” he opined.
Eric Trump, the co-founder of American Bitcoin and an outspoken advocate for both Bitcoin and Ethereum, praised Portnoy’s latest $2 million purchase as a “smart trade,” encouraging crypto buys when the markets experience sharp drawdowns.
Source: https://zycrypto.com/smart-trade-eric-trump-praises-dave-portnoys-strategic-acquisition-of-bitcoin-ether-and-xrp-during-market-rout/
