Barstool founder Dave Portnoy, ever the maestro of self-promotion, couldn’t resist bragging about his “buying the dip” strategy mere days after dumping a cool $2 million into XRP, Ethereum, and Bitcoin during what could charitably be described as a market bloodbath.
Doubling Down After the Plunge
Ah, Dave Portnoy. The man who once made headlines for selling his Bitcoin holdings at the worst possible moment, has now returned to crypto with all the finesse of a well-timed rerun. Having purchased a staggering $1 million worth of XRP tokens, Portnoy found himself celebrating just as the crypto market’s collective stomach flipped from a plummet on November 21. Yet, rather than retreating like a sensible person, Dave decided it was time to double down-seizing the volatility as an opportunity to buy more, because, why not?
“Crypto. I did the thing. And yes, I just bought more,” he proudly announced on X, formerly known as Twitter, like a man who had just discovered a particularly delicious kind of hot sauce. A man of convictions-or at least, of timing, we hope.
The Market Recovery
And lo and behold, the crypto market did what it does best: it surged. After dropping to a measly $80,500 on November 21, BTC rebounded like a star athlete out of a slump, soaring to $89,000 by late November 24. Similarly, XRP shot up from its double-digit losses, comfortably trading above $2.20. Ethereum wasn’t to be left behind, nearing the $3,000 mark. It was almost as if the market had read Portnoy’s Twitter post and decided to make him look like a genius.
For XRP, this recovery was practically a spiritual rebirth-nearly 10% up in 24 hours, coinciding neatly with the launch of exchange-traded funds (ETFs). A surge in demand? Perhaps. A timely intervention by Portnoy? Even better.
The Barstool founder’s bold move appears, for now, to be vindicated, as his crypto portfolios have stopped bleeding red. “Buy the dip,” they say. Well, if you wait long enough, sometimes the dip buys you back.
But let’s not get carried away. Social media, that delightful crucible of opinions, erupted with its usual charm. Some praised Portnoy for finally “getting it” (crypto 101, here we come!), while others, ever the cynics, questioned whether this was a case of premature celebration. “Portnoy’s strategy: Buy the dip, then post the dip,” one commenter quipped, comparing him to Jim Cramer-a man renowned for making market predictions that often go against the grain of logic.
One user, ever so cautious, had this to say:
“I get very nervous when I find myself agreeing with either you or Jim Cramer. But yeah, you’re right. I think you finally got the crypto basics figured out (buy red/sell green). Stay away from leverage – lol – but otherwise, Godspeed Ser,” they wrote. Clearly, a fan of caution, if not of Portnoy’s inevitable self-congratulations.
Market sentiment, as always, is divided. Some crypto experts claim BTC will continue its rally, thanks to expected Federal Reserve rate cuts. Meanwhile, others are already preparing for the crash, projecting that BTC might fall to below $60,000 again. Which camp is correct? Only time (and perhaps more of Portnoy’s tweets) will tell.
FAQ 💡
- What did Dave Portnoy buy during the crash? A casual $2M into XRP, ETH, and BTC on November 17, and more on November 21.
- How did the market react afterward? BTC bounced back above $89K, XRP climbed past $2.20, and ETH neared $3K. Talk about a rollercoaster.
- Why is his strategy notable now? This time, unlike his past sell-offs, Portnoy doubled down and expanded his holdings instead of crying uncle.
- How are people responding? Social media is split-some commend his conviction, others mock his timing. Classic Portnoy.
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2025-11-25 15:30