‘Smart trade’ — Eric Trump reacts after Dave Portnoy discloses XRP, BTC, and ETH purchases
Portnoy's crypto investments highlight growing mainstream interest and potential volatility in digital assets, influencing market dynamics.
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Eric Trump lauded Dave Portnoy’s move as a “smart trade” after the Barstool Sports founder disclosed he had accumulated XRP, Bitcoin, and Ethereum during the crypto market rout.
Portnoy invested over $2 million in the three leading crypto assets, allocating the largest portion of the capital to XRP. He bought $750,000 in Bitcoin and $400,000 worth of Ethereum.
It’s likely that Eric Trump was referring to Portnoy’s Bitcoin and Ethereum moves.
The co-founder of American Bitcoin Corp. is a known advocate for both Bitcoin and Ethereum, encouraging purchases when the markets experience sharp downturns.
Bitcoin fell below $90,000, down 3% in 24 hours, while Ethereum dropped nearly 4% to under $3,000 and XRP tumbled 5%, per CoinGecko. The total crypto market capitalization slid 3%.