- Dave Portnoy once got outbid on a Miami apartment by a crypto investor who bought Bitcoin at $7.
- He admits to FOMOing into XRP without conviction, just in case it’s “the next Bitcoin.”
- Despite his $7M win on a meme coin, he’s chasing a potential 14x with XRP — a move that doesn’t quite align with his past bets.
Barstool founder Dave Portnoy shared a story that still clearly bugs him: he once tried to buy an apartment in Miami, only to get outbid by a guy who made his fortune buying Bitcoin when it was priced at just $7 or $8. At the time, Portnoy was vaguely aware of Bitcoin, but hadn’t jumped in. “I worked my ass off for 20 years,” he said. “And this dude just swoops in.”
Now, with crypto even more mainstream — and speculative — than ever, Portnoy says FOMO is alive and well. “100% FOMO on everything,” he said, though he thinks it’s less about Bitcoin these days and more about meme coins.
Ironically, that same FOMO has him eyeing XRP, even though he doesn’t actually understand the project. “I don’t know if it’s the next Bitcoin,” he admits, “but it’s at $2.40… what if?” It’s that kind of thinking — the “what if” — that has him betting, not based on fundamentals, but fear of missing the next rocket.
What’s strange is the math doesn’t really support his hunch. For XRP to match Bitcoin’s market cap, it would only 14x — reaching about $30 — not the six-figure territory he seems to be alluding to. And considering he once turned a $1,000 investment in $JAILSTOOL into over $7 million (a 7000x), FOMOing into something for a potential 14x feels oddly small-time for a guy with his trading history.
Still, as Portnoy has proven before, conviction isn’t always required — just a gut feeling and a willingness to ride the wave.
