Dave Portnoy 'Cries' Over Selling XRP Before It Sets Record

Dave Portnoy, the founder of Barstool Sports, has just admitted a major mistake: selling his entire bag $XRP right before this coin skyrocketed, surpassing its historical peak.

In a video posted on X (Twitter) on Thursday night, Portnoy lamented: “I sold XRP two weeks ago at $2.40. Now I want to cry because I could have had millions of dollars.”

This happened just as XRP hit a new peak of $3.65, breaking the record of $3.40 that was set in 2018. The reason Portnoy sold was that “a friend advised me to buy XRP” claimed that Ripple would face fierce competition from Circle – the company that successfully IPO'd USDC. The result: XRP has risen 60% since Portnoy sold.

Portnoy is no stranger to these “crying laughter” sell-offs. In 2021, he also admitted “I messed up Bitcoin” when he panic-sold BTC. Nevertheless, Portnoy continues to dive into crypto, having previously launched his own meme coin on Solana.

XRP’s increase of over 600% since Donald Trump was elected is also thanks to the gradually clearer U.S. regulatory framework, ETFs pouring money into XRP, and the historic lawsuit between the SEC and #Ripple nearing its conclusion. While Portnoy regrets, many patient XRP holders still believe the price could reach $27.

🌟 Lesson learned: In crypto, sometimes “diamond hands” still win!