XRP News Today: Dave Portnoy Doubles Down on XRP, Invests $1 Million Amid Market Turmoil

American businessman and founder of Barstool Sports, Dave Portnoy, recently sparked a wave of discussions within the cryptocurrency community with a thought-provoking question about XRP. In a short video clip shared by crypto enthusiast Amelie, Portnoy pondered, “What if that is the next Bitcoin?” This remark has garnered significant attention, particularly given Portnoy’s candidness and his past encounters with cryptocurrency.

Portnoy’s contemplation about XRP appears to stem from a personal experience that left a lasting impression. He reflected on an incident where a Bitcoin investor outbid him when he attempted to purchase a property in Miami. This event highlighted the real-world financial power that cryptocurrencies, particularly Bitcoin, can wield. The incident left Portnoy considering whether XRP could one day hold similar financial significance.

Portnoy is known for his bold investment moves, and he has recently increased his stake in XRP, the digital asset associated with Ripple Labs. In December 2024, he revealed that he held $1.3 million in XRP and $1.5 million in Bitcoin. By February 2025, amid a turbulent market, he invested an additional $1 million in XRP, underscoring his belief in its potential for substantial gains. As he put it, “As a gambler myself, I want the 10X coin like XRP. Bitcoin won’t do that anytime soon.”

Several factors seem to fuel Portnoy’s optimism about XRP. A significant development is Ripple’s launch of RLUSD, a USD-backed stablecoin designed to enhance liquidity and streamline cross-border payments. Furthermore, the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) remains in focus. Many investors, including Portnoy, believe that a favorable resolution under the new SEC chairman, Paul Atkins, could be a major catalyst for XRP’s price growth.

Portnoy’s approach to XRP exemplifies his high-risk, high-reward mindset. Rather than actively trading, he opts for a long-term hold, reflecting his belief that XRP could experience exponential growth similar to that of Bitcoin. His strategy, which he often described as “bet it and set it,” is rooted in the conviction that XRP’s utility and market potential make it a worthwhile gamble.

Dave Portnoy’s public endorsement of XRP and his significant investment reflect a growing curiosity about the asset’s future. While his provocative question—“What if that is the next Bitcoin?”—remains speculative, it undoubtedly aligns with the broader conversation surrounding alternative cryptocurrencies. As XRP continues to evolve within the financial landscape, Portnoy’s interest serves as a reminder of the unpredictable and often surprising nature of the crypto market.