TLDR
- A former Ripple developer said Strategy could have doubled its profits with XRP instead of Bitcoin.
- XRP posted a 513% gain over the same period when Bitcoin gained only 96%.
- Strategy currently holds over 601,000 BTC valued at more than 71 billion dollars.
- Several public companies are now building large XRP treasuries for DeFi and payments.
- Despite XRP’s strong performance, Strategy continues to focus solely on Bitcoin investments.
Strategy’s Bitcoin-first approach has come under scrutiny following new claims about XRP’s superior returns. A former Ripple developer stated that Strategy could have doubled its gains with an XRP portfolio. Despite BTC’s strong position, institutional shifts toward XRP suggest growing confidence in the altcoin’s performance.
XRP Delivered Greater Returns and Institutional Adoption
Matt Hamilton, a former Ripple engineer, analyzed historical performance and highlighted XRP’s stronger returns than Bitcoin. He noted that XRP gained 513% over a set period, while BTC gained only 96%. These figures showed that Strategy’s current profits could have been significantly higher with XRP.
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
Hamilton pointed to XRP’s expanding adoption across DeFi and payments, which is attracting more institutional participation. Public companies are raising substantial capital to create XRP treasuries to support his claims. This trend may reinforce XRP’s rising role in corporate portfolios.
Firms like Trident, VivoPower, and Webus International are actively allocating funds toward XRP rather than BTC. Trident aims to raise $500 million for an XRP treasury, while VivoPower already secured $121 million. This rising interest signals a shift in institutional preference toward utility-focused digital assets.
Bitcoin Remains Strategy’s Core Asset
Strategy continues to accumulate BTC, recently passing the 600,000 BTC mark after 12 straight weeks of purchases. The firm acquired 4,980 BTC for $531.9 million, with an average cost exceeding $106,000. This strategy reinforces Chairman Michael Saylor’s unwavering commitment to Bitcoin’s long-term value.
Strategy bought its entire BTC portfolio for $42.87 billion, now valued above $71 billion at current market prices. This represents unrealized profits of approximately $29.4 billion for the company. Saylor frequently uses social media to promote Bitcoin as the ideal corporate treasury asset.
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Despite the recent attention on XRP, Strategy has shown no signs of diversifying into other digital assets. The company maintains that BTC offers the most security, liquidity, and institutional support. Its BTC-focused approach continues to guide its treasury management decisions.
Strategy Faces Alternative Scenarios with XRP Performance
Hamilton’s report creates a hypothetical view of how Strategy’s position could have evolved under a different investment focus. If the firm had prioritized XRP, it might have realized nearly double the returns. XRP’s market growth and practical use cases support this outcome.
Hamilton’s claims align with rising institutional adoption of XRP for lending, payment, and DeFi platforms. Companies like Ault Capital and Worksport Ltd. are creating on-chain products built around XRP reserves, which indicates XRP’s increasing corporate relevance.
