Author Luis Blanco
May 18, 2025, 18:48 GMT+0000
Updated by
Luis Blanco
May 18, 2025, 18:49 GMT+0000
In summary
Dave Portnoy sees great potential in XRP and believes it could be the next Bitcoin, driven by FOMO.
The founder of Barstool Sports admits he does not have a technical conviction, but he is betting on XRP.
XRP, despite its legal challenges, could leverage its visibility and structure to become a leading cryptocurrency.
Dave Portnoy, the popular founder of Barstool Sports, has created a stir in the crypto community by suggesting that XRP could become the next big cryptocurrency, following in Bitcoin's footsteps.
In his remarks during the Consensus event in Toronto, Portnoy shared a provocative view, in which the “fear of missing out” (FOMO) could be driving the growing interest in this cryptocurrency.
Can XRP overcome its challenges and become the next Bitcoin?
Although Portnoy acknowledged that he does not have strong technical conviction about XRP, his intuition suggests that he may be seeing a pattern similar to what allowed Bitcoin to reach its current status.
Dave Portnoy recounted a personal story in which an investor who bought Bitcoin when its price was still in the single digits ended up outbidding him in an apartment auction.
This episode left a mark on his view of the markets and cryptocurrencies. “I don’t know much about it,” Portnoy admitted, but he couldn’t help but think: “What if XRP is the next [Bitcoin]?” This concern, although based on a simple hunch, reflects how investors are constantly looking for the next big opportunity.
In this context, FOMO plays a crucial role. This phenomenon refers to the anxiety that many investors feel about missing out on an opportunity that could mean significant gains.
The founder of Barstool Sports noted that FOMO about XRP is on the rise, especially as the price of the cryptocurrency remains relatively low, around $2.39, according to data from BeInCrypto.
This, in his opinion, makes it comparable to Bitcoin's price in its early days, when early investors saw significant returns.
Despite its legal challenges and the inherent volatility of its price, XRP is one of the few cryptocurrencies that has the necessary infrastructure to capitalize on a potential resurgence.
