Barstool Sports and social media, Dave Portnewi, doubled his encryption investments, and revealed during Livestream on February 3 that he bought an additional amount of $ 1 million from XRP.
Why XRP?
Burnoy, known for his non -apologize in trading and gambling, issued this announcement while discussing the shrinkage in the market on Monday. “Well, this is my advertisement. I just bought another million of XRP,” it is He said.
This is not the first time that Portnoy has made waves with high -risk encrypted investments. In mid -December 2024, it was revealed on the live broadcast that it had already accumulated with $ 1.3 million from XRP, along with $ 1.5 million in Bitcoin.
During these live broadcasts, Portinoi expressed his frustration with the loss of early marches, but he maintained his commitment to long -term factors instead of active trading. “I know that XRP has risen more than 400 % … I have always been late for these runs. I just waged it and put it. I am not trading, I just hold it.”
Its investment philosophy seems to tend towards high risk plays, as XRP was its chosen assets to make great gains. “As a gambler myself, I want a 10x currency like XRP. Bitcoin will not do it any time soon.”
The first purchase of Portnoy coincided with the release of RLUSD (Ripple USD), which is Stablecoin aimed at enhancing liquidity within the ecosystem. When admitting the increased excitement about RLUSD, the most important Portnoy is the speculative potential for XRP.
The legal battle of Ripple with SEC has been a decisive factor that contributes to increasing prices in the past months. Many merchants, including Portnoy, believe that the assets are a high -risk and high -ranking betting due to the ongoing organizational developments, and perhaps an end to the issue under the new SEC Council President Paul Atkins.
The latest acquisition of Portnoy was worth a million dollars amid a decline in the market on Monday, as Bitcoin and Altcoins witnessed a sharp decline, followed by highly recovery marches. Altcoin has seen a sharp decrease after a multiple months increased, but it printed a very rising daily candle with 32 % fuse.
The contraction can be attributed to the market’s reaction to President Donald Trump’s implementation of definitions of imports from Mexico and Canada. Announcing this customs tariff, which included a 25 % tariff on goods from both countries and 10 % tariffs for Canadian energy and oil, sent shock waves across the entire financial market.
This decrease was part of the wider encryption market correction, as Bitcoin also decreased to 91200 dollars, and other altcoins such as Ethereum and Dogecoin sees a double diving. The encryption market faced more than two billion dollars in liquidation, highlighting the panic and uncertainty that these definitions made in the market. However, the reflection was quickly when Trump announced the first deal with Mexico.
At the time of the press, XRP was traded at $ 2.66.
Distinctive image from YouTube, Chart from TradingView.com
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