Portnoy Just Bought $1 Million Worth of XRP

Barstool co-founder Dave Portnoy has revealed that he has purchased another $1 million worth of $XRP.

The controversial influencer and market commentator also bought roughly $500,000 worth of $BTC at $82,000.

Quoting famous investor Warren Buffett, Portnoy stated that one has to buy when there is “blood in the streets.”

The Barstool Sports founder and controversial market commentator revealed on Friday that he has purchased $1 million worth of $XRP, alongside a $500,000 buy of Bitcoin ($BTC) at the $82,000 level.

Portnoy’s $XRP journey

Portnoy’s relationship with $XRP has been particularly peculiar. He has frequently expressed a begrudging respect for the “$XRP Army,” the token’s notoriously vocal online community.

In mid-2025, Portnoy positioned himself as the self-proclaimed “Leader of the $XRP Army.”

In July, he revealed that he had sold his entire $XRP position at roughly $2.40, citing bad advice that stablecoin issuer Circle would crush Ripple’s business model. Two weeks later, $XRP surged to a new all-time high of $3.66.

Unable to stay on the sidelines, Portnoy re-entered the arena in late 2025.

In November, he announced a $1 million purchase of $XRP (along with $BTC and ETH) during a market dip.

$XRP ETF losses

In the meantime, US-based $XRP exchange-traded funds suffered a massive exodus of capital on Thursday.

According to the data provided by SoSoValue, $XRP ETFs recorded a net outflow of $92.92 million on Jan. 29.

This marks the second major red day for $XRP ETFs in roughly a week after a $53.32 million outflow on January 20.

However, the waning institutional interest has not dissuaded Portnoy from another massive purchase.

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