Barstool Sports founder Dave Portnoy publicly expressed regret over selling his XRP holdings at $2.40 just before the cryptocurrency's historic surge to $3.65. During his "Davey Day Trader Global" stream, Portnoy revealed he acted on advice from an anonymous advisor dubbed his "XRP guy," who warned that Circle's expansion into cross-border payments via its Circle Payments Network (launched in May 2025) threatened XRP's market position.
Portnoy liquidated approximately $3 million worth of XRP between $2.10 and $2.40, only to watch the token skyrocket 60% days later amid bullish catalysts including post-election momentum following President Trump's 2024 victory, regulatory clarity, and anticipation of a resolution in Ripple's SEC lawsuit. The rally propelled XRP's market capitalization above $200 billion.
This mirrors Portnoy's 2021 mistake when he panic-sold Bitcoin during a downturn. Despite maintaining profitable positions in Bitcoin and Ethereum, he described the XRP miss as making him "sick to my stomach." The incident underscores crypto market volatility and the risks of acting on incomplete information.