Dave Portnoy Invests $1 Million in XRP Amid Market Decline
- Dave Portnoy purchased $1,000,000 worth of XRP despite its recent price decline.
- XRP has fallen nearly 15% over the past week, currently around $2.13.
- Portnoy also acquired $750,000 in Bitcoin and $400,000 in Ethereum.
- Bitwise Asset Management announced a spot XRP ETF to trade on the NYSE soon.
- Eric Trump commented “smart trade” on Portnoy’s announcement post.
Dave Portnoy’s significant investment in XRP comes at a time when the asset is underperforming and facing muted investor sentiment. His decision aligns with emerging institutional interest, as evidenced by Bitwise’s upcoming spot ETF launch.
Portnoy’s move may reflect a strategic bet on potential market recovery driven by institutional adoption rather than current market conditions. Source
