Based on Benzinga, Barstool Sports founder Dave Portnoy revealed in a recent stream that he owns $1.5 million in Bitcoin and $1.3 million in XRP. This announcement follows his interview with Bitcoin advocate Michael Saylor. Portnoy expressed his strategy of holding rather than trading these cryptocurrencies. The XRP token has seen significant growth, rising over 100% in the past month and 260% year-to-date in 2024, partly due to the launch of Ripple's USD-backed stablecoin, RLUSD. Portnoy's investment in XRP aligns with the optimism surrounding Ripple's new financial protocols and global payment plans. Despite his past confusion with Bitcoin investments, Portnoy remains bullish, citing a 97% success rate in his trading advice. The Ripple stablecoin aims to enhance decentralized finance and cross-border settlements, with integration for enterprise clients planned for next year.
Dave Portnoy Holds $1.5M in Bitcoin, $1.3M in XRP Amid Ripple's Stablecoin Launch
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