Ethereum

Prime

BlackRock

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 <p><strong>Key Highlights</strong></p>
 <ul>
  <li>Dave Portnoy bought over $2 million worth BTC, ETH, and XRP during the market crash.</li>
  <li>Whales and institutions, including BlackRock and Strategy, continued accumulating major crypto assets despite the sell-off.</li>
  <li>New spot XRP ETFs attracted strong inflows, signaling rising institutional interest even as Bitcoin and Ethereum ETFs saw outflows.</li>
 </ul>
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<p>The cryptocurrency market remained under heavy pressure on Wednesday, with Bitcoin (BTC) sliding below the critical $90,000 level for the first time in seven months. Ethereum (ETH), XRP, and other major altcoins also dipped sharply as investors reacted to a broader downturn across global markets.&nbsp;</p>
<p>Yet, despite the worsening sentiment, some buyers continue to see the turbulence as an opportunity, including Barstool Sports Founder Dave Portnoy, who has doubled down with a fresh multi-million-dollar crypto purchase.</p>
<h2 class="wp-block-heading" id="portnoy-adds-btc-eth-and-xrp-to-his-portfolio">Portnoy adds BTC, ETH, and XRP to his portfolio</h2>
<p>Portnoy disclosed on X that he bought over $2 million worth of digital assets during the latest market crash. His purchase included $1 million in XRP, $400,000 in Ethereum, and $750,000 in Bitcoin, executed in what he described as a “great white shark attack” on a bleeding market.</p>
<blockquote class="twitter-tweet">
 <p>Last night I bought $2,000,000 in crypto. When there’s blood in the streets I’m like a Great White Shark <a href="https://twitter.com/hashtag/DDTG?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#DDTG</a> <a href="https://t.co/aKUXFoD4Xy" rel="noopener noreferrer nofollow">pic.twitter.com/aKUXFoD4Xy</a></p>— Dave Portnoy (@stoolpresidente) <a href="https://twitter.com/stoolpresidente/status/1990793340514971648?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 18, 2025</a>
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<p>The move follows his earlier statement made on October 18, 2025 when he <a href="https://x.com/stoolpresidente/status/1979310950449815558" target="_blank" rel="noopener noreferrer nofollow">said</a> he would buy XRP if the token dropped below $2.20. With the altcoin falling to $2.12 amid the week’s sell-off, Portnoy seized the opportunity.&nbsp;</p>
<p>His sentiment contrasts the cautious approach seen across retail traders, many of whom exited positions as prices retreated to multi-week lows.</p>
<h2 class="wp-block-heading" id="whales-accumulate-despite-the-crash">Whales accumulate despite the crash</h2>
<p>Portnoy is not alone. According to blockchain data, a number of big investors, commonly referred to as whales, have been continuously buying cryptocurrencies throughout the crash period.</p>
<p>On-chain tracker Lookonchain reported that one whale purchased more than 30,000 ETH between November 3 and 10, spending roughly $110 million as Ethereum slipped under intense selling pressure.</p>
<blockquote class="twitter-tweet">
 <p>An unknown whale dumped 31,005 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($92.19M) 6 hours ago, taking a $18.8M loss in just 2 weeks.<br><br>This whale had been buying the dip from Nov 3 to Nov 10, buying 30,838 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($110.43M) at an average price of $3,581.<br><br>If you're dip-buying, the dip never ends.… <a href="https://t.co/a7nA3ag0Uu" rel="noopener noreferrer nofollow">pic.twitter.com/a7nA3ag0Uu</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1990733506092413029?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 18, 2025</a>
</blockquote>
<p>Similarly, Strategy, led by Michael Saylor, made another aggressive purchase, <a href="https://www.cryptotimes.io/2025/11/17/strategy-buys-835m-in-bitcoin-days-after-selling-rumor/" target="_blank" rel="noopener noreferrer nofollow">adding 8,178 BTC</a> to its holdings. Asset manager BlackRock also moved significant funds, depositing 3,064 BTC (around $280 million) and 64,707 ETH (around $198 million) into a Coinbase Prime account.&nbsp;</p>
<p>These moves signal that institutional players still view the pullback as temporary rather than a structural shift in long-term demand.</p>
<h2 class="wp-block-heading" id="xrp-etfs-attract-new-institutional-interest">XRP ETFs attract new institutional interest</h2>
<p>Bitcoin and Ethereum ETFs have experienced high outflows in the recent past but the new <a href="https://www.cryptotimes.io/2025/11/11/canary-to-launch-first-xrp-spot-etf/" target="_blank" rel="noopener noreferrer nofollow">Canary Capital spot XRP ETF</a> has stolen the limelight. It registered <a href="https://www.cryptotimes.io/2025/11/15/xrp-etf-outshines-2025-launches-with-250m-first-day-inflows/" target="_blank" rel="noopener noreferrer nofollow">$250 million inflows in the first day</a>, indicating increased institutional interest in the altcoin.</p>
<p>This trend is likely to persist in the coming week with four additional spot XRP ETFs set to launch, including <a href="https://www.cryptotimes.io/2025/11/06/franklin-templeton-nears-launch-of-spot-xrp-etf/" target="_blank" rel="noopener noreferrer nofollow">Franklin Templeton</a>, Bitwise, 21Shares, and CoinShares.</p>
<p>These launches are an important milestone to the XRP, which had years of fighting regulatory uncertainty after the SEC sued Ripple in 2020. With the courts clarifying that <a href="https://www.cryptotimes.io/2023/07/13/ripple-wins-sec-lawsuit-xrp-not-a-security/" target="_blank" rel="noopener noreferrer nofollow">XRP is not a security</a> when sold on exchanges, institutional participation has sharply increased.</p>
<h2 class="wp-block-heading" id="why-it-matters">Why it matters</h2>
<p>The difference between the panicked selling and heavy accumulation is a more profound indicator of the change in the market behavior. Whereas retail investors respond to short-term fluctuations in prices, institutional investors and high-profile investors like Portnoy seem to be positioning to gain in the future.</p>
<p>The entry of new XRP ETFs, coupled with the strategic purchases of the key participants, is an indication that the ongoing decline can be the gateway to the new upward momentum as soon as the markets stabilize.</p>
<p>Although the market is volatile, the constant inflow of whales and institutional capital is a positive indicator that the crypto industry is on a long-term upward trend.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>Also Read: <a href="https://www.cryptotimes.io/2025/11/18/cameron-winklevoss-urges-people-to-buy-btc-as-crypto-erases-2025-gains/" target="_blank" rel="noopener noreferrer nofollow">Cameron Winklevoss Urges People to Buy BTC as Crypto Erases 2025 Gains</a></p>
</blockquote>

Dave Portnoy Buys $2M Worth BTC, ETH, and XRP Amid Market Crash

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The Crypto Times

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