Dave Portnoy Reports Fresh XRP Purchase

Dave Portnoy, the founder of Barstool Sports, has recently made significant crypto investments during a market downturn. According to a report from Bullrunners on X, Portnoy purchased $1 million in XRP, $750,000 in Bitcoin, and $400,000 in Ethereum.

A Calculated Dive into the Dip

Portnoy's recent crypto acquisitions reflect a strategic approach to accumulating assets during market declines. Bullrunners reported that he invested a total of $2.15 million across these three major cryptocurrencies. Portnoy described his strategy as capitalizing on opportunities, stating, "When there’s blood in the streets, I’m like a Great White Shark."

This is not the first instance of Portnoy buying XRP during a market dip. Earlier in 2025, he made a similar $1 million purchase when XRP experienced a pullback, indicating his view of such moments as favorable entry points.

Portnoy’s Crypto Journey: From FOMO to Big Bets

Portnoy first publicly acknowledged his interest in Bitcoin in 2020, following a meeting with the Winklevoss twins. His crypto portfolio later expanded to include XRP, which he has referred to as his "10x bet" due to its potential for significant returns. In December 2024, he reported holding $1.3 million in XRP and $1.5 million in Bitcoin, characterizing his investment style as "bet it and set it, not trading."

However, Portnoy has also experienced regret with his XRP investments. In mid-2025, he sold a substantial portion of his XRP holdings at approximately $2.40 per coin, only to witness a subsequent sharp price increase. He later expressed his disappointment in a video, stating, "I would’ve made millions… I want to cry."

Why XRP, Again?

Portnoy's renewed investment in XRP suggests a continued belief in its long-term prospects, despite ongoing regulatory challenges and market volatility. The potential for substantial returns from Ripple's legal developments and expanding use cases aligns with Portnoy's preference for investments with asymmetric payoff potential.

Furthermore, Portnoy appears committed to his core investment strategy: buying during market weakness and holding. He has publicly adopted a "HODL" mentality, particularly during periods of market stress.

Reflection and Risk

Some observers have characterized Portnoy's investment approach as a combination of public persona and high-risk speculation. He has acknowledged making emotionally driven decisions, such as his XRP sale, and has sometimes described himself as being "always late to these runs." Nevertheless, his readiness to re-enter the market demonstrates conviction in his investment choices.

For Portnoy, these investments represent more than casual wagers; they are significant financial commitments. The ultimate success or failure of his strategy will be determined by future market movements. His active participation, rather than passive observation, is a clear indicator of his engagement with the cryptocurrency space.