Dave Portnoy Asks: Could XRP Become the Next Bitcoin?
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Dave Portnoy, the outspoken founder of Barstool Sports, highlighted XRP during his initial appearance at CoinDesk’s Consensus 2025 event. While on stage at the Metro Toronto Convention Centre, Portnoy admitted his sole motivation for purchasing the token was the fear of missing out.
Accompanied by media strategist Sam Ewan, Portnoy began with some light-hearted comments about Toronto’s pizza scene, declaring his preference for “North of Brooklyn.” He expressed appreciation for his local guide, Bill the Greek, before shifting focus to the cryptocurrency market that attracted many attendees to the conference.
When asked if the current market cycle is overly influenced by so-called meme coins, Portnoy was straightforward. “Even Bitcoin is, frankly, a memecoin,” he stated, setting the scene for a conversation that blended personal investment experiences with cultural insights.
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As Ewan sought to identify the boldest investment Portnoy made, the 47-year-old recounted several successful trades as easily as one might rattle off names of family members: Axon stock at around $200 (which he noted is now closer to $700), the Rose Bowl victory for Michigan, and Scottie Scheffler winning the Masters. Yet he distinctively described those successes as “two different things” compared to the immediate thrill of watching investment values surge from the comfort of one’s home. “There’s something exhilarating about making money without actively working for it,” he confessed.
Why XRP Over Bitcoin?
Portnoy’s self-reported fear of missing out became more apparent as the discussion turned to real estate. He recalled the frustration of losing out on a Miami apartment to a competitor who had “heard of Bitcoin when it was just a few dollars.” This experience, he explained, encapsulated his anxiety about not seizing profitable opportunities: “I’ve put in two decades of hard work and he just outbid me.”
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This same sentiment, Portnoy revealed, now fuels his interest in XRP. “It’s around two dollars and forty cents, right? What if it turns out to be the next Bitcoin?” he pondered, clarifying that his investment reflects a speculative inclination rather than a firm belief in Ripple’s technology or economic model. “It’s purely driven by FOMO. I don’t have a strong conviction behind it.”
In perhaps the most telling moment of the discussion, Portnoy recounted his tumultuous history with Bitcoin stemming from a serendipitous meeting: “I first bought Bitcoin for about $10,000 … I ran into the Winklevoss twins at a hotel nearby, and they gave me what I can only describe as the worst explanation ever, which led me to sell it immediately.”
Losing out on what he described as “about $2 million” would have eclipsed all of his otherFinancial achievements, highlighting the emotional highs and lows many investors experience throughout the volatile landscape of cryptocurrency.
As of this report, XRP was trading at $2.40.
Featured image from a video platform, chart from a financial analysis service.
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