- Dave Portnoy as soon as received outbid on a Miami condo by a crypto investor who purchased Bitcoin at $7.
- He admits to FOMOing into XRP with out conviction, simply in case it’s “the subsequent Bitcoin.”
- Regardless of his $7M win on a meme coin, he’s chasing a possible 14x with XRP — a transfer that doesn’t fairly align together with his previous bets.
Barstool founder Dave Portnoy shared a narrative that also clearly bugs him: he as soon as tried to purchase an condo in Miami, solely to get outbid by a man who made his fortune shopping for Bitcoin when it was priced at simply $7 or $8. On the time, Portnoy was vaguely conscious of Bitcoin, however hadn’t jumped in. “I labored my ass off for 20 years,” he stated. “And this dude simply swoops in.”
Now, with crypto much more mainstream — and speculative — than ever, Portnoy says FOMO is alive and effectively. “100% FOMO on every part,” he stated, although he thinks it’s much less about Bitcoin as of late and extra about meme cash.
Satirically, that very same FOMO has him eyeing XRP, although he doesn’t truly perceive the venture. “I don’t know if it’s the subsequent Bitcoin,” he admits, “nevertheless it’s at $2.40… what if?” It’s that sort of pondering — the “what if” — that has him betting, not based mostly on fundamentals, however worry of lacking the subsequent rocket.
What’s unusual is the mathematics doesn’t actually help his hunch. For XRP to match Bitcoin’s market cap, it could solely 14x — reaching about $30 — not the six-figure territory he appears to be alluding to. And contemplating he as soon as turned a $1,000 funding in $JAILSTOOL into over $7 million (a 7000x), FOMOing into one thing for a possible 14x feels oddly small-time for a man together with his buying and selling historical past.
Nonetheless, as Portnoy has confirmed earlier than, conviction isn’t all the time required — only a intestine feeling and a willingness to trip the wave.