- Dave Portnoy bought roughly $2.15 million in crypto during a sharp market sell-off, including $1 million in XRP within two minutes, plus large buys in Bitcoin and Ethereum.
- His aggressive dip-buying drew public support from Eric Trump, whose long-term bullish calls on Bitcoin and crypto align with Portnoy’s high-volatility strategy.
- Portnoy’s move comes after a rocky history with XRP, including a mistimed $3M sell in July, highlighting his FOMO-driven but high-conviction approach to major market pullbacks.
In a video posted on X, Dave Portnoy walked viewers through the frenzy of trades he fired off on November 17 — right when the market was getting slammed by a wave of volatility. At 6:38 PM, he bought $500,000 worth of XRP, then immediately allocated $400,000 to Ethereum, and moments earlier, at 6:37 PM, he had already placed a $750,000 Bitcoin order.
But it didn’t stop there. Records in his post showed that at 6:36 PM, he’d already snapped up another $500,000 of XRP, meaning he dropped a full $1 million on XRP in under two minutes. Portnoy said the sharp drop across the major cryptocurrencies looked too attractive to ignore — a rare setup for large entries, as he put it. His video had the tone of someone who didn’t want to miss the moment, buying aggressively right into the market-wide panic.
Eric Trump Responds: “Smart Move”
Not long after Portnoy shared his buying spree, Eric Trump jumped in publicly to support the decision. He called the move strategic and aligned with his own views on scooping up crypto during retracements. Throughout the year, Trump has been unusually vocal about crypto market dynamics, regularly promoting the idea of buying during dips. Earlier comments from him suggested Bitcoin could hit $170,000 by year-end and possibly even make the long march to $1 million someday.
His support for Portnoy’s decision fits neatly with those predictions — one more bullish nod from a political figure who’s been increasingly involved in crypto chatter.
The Market Was Bleeding When Portnoy Stepped In
Portnoy’s buys came at a moment when the market was posting serious weekly and monthly losses.
- XRP dropped to $2.07 after an 11.66% weekly decline.
- Bitcoin fell to $89,719, down 11.51% this week.
- Ethereum slipped to $2,940, falling 13.66% in seven days.
Zoom out one month and the losses were even heavier:
- Bitcoin slid 18.97%,
- Ethereum crashed 25.4%,
- XRP dropped 15.66%.
Portnoy wasn’t buying strength — he was buying straight into fear.
Portnoy’s Complicated Relationship With XRP
This isn’t the first time Portnoy has spoken openly about XRP. Back in May, he admitted that his attraction to the token has less to do with fundamentals and more to do with what he calls “pure FOMO energy.” He compared XRP’s potential to the early days of Bitcoin for him — fast, unpredictable, and capable of explosive upside.
But he also has history with the token. In July, Portnoy reportedly sold about $3 million in XRP after misunderstanding a friend’s message that he mistakenly thought was a warning. He exited at $2.40 — and then watched XRP run to $3.65shortly afterward. He publicly regretted the move despite doing well in his BTC and ETH positions.
A High-Volatility Bet With High-Profile Attention
Portnoy’s latest multi-million-dollar crypto shopping spree shows he hasn’t backed away from the space, even with the market buckling under pressure. And with Eric Trump chiming in supportively, the moment gained a political spark too — putting even more eyes on Portnoy’s high-speed, high-conviction trades.
Whether this aggressive buy turns out to be perfectly timed or just another rollercoaster decision remains to be seen… but it’s clear Portnoy’s not afraid to swing hard when the market looks shaky.
