$57 Billion Mistake? Ex‑Ripple Engineer Reveals XRP Investment Blunder

Christian Encila

4 hours ago

3 mins read

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MicroStrategy’s (now Strategy) big bet on Bitcoin has paid off so far, but it may have left even more money on the table. According to Matt Hamilton, a former Ripple developer now at Asimove Protocol, the firm missed out on about $56.8 billion in extra gains by choosing BTC over XRP.

XRP Returns Versus Bitcoin

Based on reports, Strategy began its crypto journey on August 11, 2020, buying 21,454 BTC for $250 million at an average price of $11,653. Over the next year, it added another 29,646 BTC in December 2020 for $650 million, then 19,452 BTC in February 2021 for $1 billion.

By June 2021, the company had spent $490 million on 13,005 BTC at $37,617 each. Fast forward to late 2024 and early 2025, it snapped up 27,200 BTC in early November 2024 for $2 billion, and 20,356 BTC in February 2025 for nearly $2 billion.

More recently, between July 7 and 13, 2025, Strategy spent $472 million to add 4,225 BTC. Altogether, it holds 601,550 BTC bought for nearly $43 billion, now worth around $72 billion, netting roughly $29 billion in unrealized gains.

Based on Hamilton’s hypothetical XRP play, the same cash and dates would have grown close to $130 billion — nearly twice the Bitcoin haul.

For those wondering how BTC has compared to XRP as an investment over longer term, I’ve recalculated what Microstrategy’s portfolio would have looked like if they had invested the same dollar value in XRP vs BTC. If Saylor had invested in XRP instead of BTC the portfolio would be… https://t.co/srq92DRW4l pic.twitter.com/e9Np3ZWJgk

— Matt Hamilton (@HammerToe) July 19, 2025

Liquidity And Risk Factors

According to Hamilton, these figures don’t account for the fact that pouring $43 billion into XRP all at once would move the market a lot. Bitcoin’s market cap is around $2 trillion. XRP sits closer to $40 billion.

That gap means big buys in XRP would send its price soaring or stalling in unpredictable ways. Institutions often pick assets they can trade without blowing up the price. They also worry about custody, compliance and regulatory clarity.

Bitcoin has clear proof‑of‑work security and broad global acceptance. XRP still faces legal questions in the US.

XRPUSD now trading at $3.43. Chart: TradingView

Investor Appetite For Altcoins

Based on data, a handful of firms have started looking at XRP as a treasury asset. Everything Blockchain plans to collect $10 million in XRP. Others like Trident, Webus International and VivoPower have dipped their toes in.

But none have shown the kind of deep pockets or public push that Strategy did with Bitcoin. Even if these smaller buyers spark short‑term price jumps, the path to a steady, large‑scale treasury reserve in XRP remains untested.

Corporate Treasury Choices

According to experts, choosing a reserve asset isn’t just about raw returns. Boards weigh volatility, legal risk and how the move looks to shareholders. Strategy made waves by being the first public company to back Bitcoin.

That bold step helped spark ETFs, custodial services and reporting standards. An equally bold bet on XRP might have done the same for that token — but it could also have drawn more regulatory heat and questions about audit treatment.

Featured image from Meta, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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