Famous sports media entrepreneur Dave Portnoy has expressed his firm belief in Bitcoin (BTC) and Ripple (XRP), emphasizing his intention for long-term investment and stating that he will not sell despite incurring millions of dollars in unrealized losses.

Portnoy, the founder of Barstool Sports, recently announced through his social media (SNS) that while he is currently recording millions of dollars in losses on his cryptocurrency investments, he has no plans to dispose of his holdings. He made it clear that he will stick to his long-term investment strategy, despite the widening of his losses due to the recent market correction.

In particular, Portnoy is known to have purchased Ripple (XRP) at around the $1.70 level earlier this year. He added that he currently holds a significant amount of BTC and XRP, and that most of the cash he intended to use for additional purchases has already been put into the market.

The market analyzes that the 'holding out' attitude of large-scale investors like Portnoy could have a positive impact on the investment sentiment of general investors. However, experts urged a cautious approach, stating, "The financial capacity and investment strategies of famous individuals cannot be equally applied to all investors."

Meanwhile, in the Ripple (XRP) market, which has recently seen expanded price volatility, investors' attention is focusing on fundamental positive factors such as the possibility of a spot ETF listing, Ripple's issued stablecoin 'RLUSD', and the expansion of its international payment business.

[※ The information provided in this article is intended to convey general virtual asset-related news and does not constitute investment solicitation or financial advice. Virtual assets are subject to high price volatility, and losses resulting from investments are the responsibility of the individual investor. Please ensure careful consideration and seek expert advice before making investment decisions. This publication does not bear legal or financial responsibility for the provided information. AI assisted with this article.]