Barstool Sports founder Dave Portnoy is regretting his decision to sell most of his XRP just weeks before the token hit new year-to-date highs on Thursday.
“I would’ve made millions, and I want to cry. I don’t own it anymore, even though I was the leader of the XRP army,” Portnoy said in a video posted to X.
His remarks followed XRP’s rally past its yearly high of $3.29, climbing to $3.60 — a 19.61% surge over the past 24 hours, according to data from Nansen.
Dave Portnoy deeply regrets selling his XRP at $2.40
“I sold XRP when it went up to $2.40 because the guy that told me to buy it told me to sell it because he thought Circle would compete with them and was unhappy with it,” Portnoy explained.
On July 2, Ripple Labs — the company linked to the XRP token — filed for a national bank charter in the U.S., just two days after stablecoin issuer Circle submitted a similar application.
Speaking at Consensus 2025, Dave Portnoy admitted he didn’t invest in XRP out of conviction, but rather out of FOMO, hoping it might become the next Bitcoin.
Crypto market surges following upbeat news on pro-crypto legislation
Thursday’s XRP rally triggered the liquidation of roughly $68.16 million in XRP short positions over the past 24 hours, according to CoinGlass data.
The surge was part of a broader crypto market upswing that began on July 9, after Bitcoin broke past its May high of $112,000. However, Thursday marked a pivotal moment for the industry, fueled by a series of legislative victories in the U.S. House of Representatives.
During a House session that day, lawmakers passed three key bills: the Digital Asset Market Clarity (CLARITY) Act, aimed at defining a clear market structure for cryptocurrencies, with a 294-134 vote; the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, approved 308-122; and the Anti-CBDC Surveillance State Act, narrowly passed with a 219-210 vote.
