What if Strategy Had Chosen to Invest in XRP Rather Than Bitcoin?

Strategy (previously known as MicroStrategy) has experienced a tumultuous journey over the last few years, overcoming skeptics by enduring bear markets, accumulating as much Bitcoin as possible, and generating billions in unrealized profits.

Recent data indicates that the former business intelligence company currently possesses 607,770 BTC, which represents 2.9% of the total 21 million coins that will ever be minted. The total expenditure for this acquisition amounts to $43.6 billion, and its current valuation stands at approximately $71.4 billion.

One concern that has been emerging in recent months is the average price paid per Bitcoin. Michael Saylor’s commitment to ongoing purchases — even during peak price periods — has resulted in an increase in this average. It now sits at $71,756, suggesting diminishing leeway in the event of a market downturn.

Additionally, there is a current discussion on X regarding the possibility of Strategy having chosen a different cryptocurrency that has yielded more substantial returns since August 2020.

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XRP vs Bitcoin

Matt Hamilton from ASIMOV Protocol has been analyzing this scenario for some time. His calculations indicate that if Strategy had invested in XRP instead of BTC, the company would have seen even greater profits. This analysis assumes that the same dollar amount was allocated to the world’s third-largest cryptocurrency at identical intervals.

For those curious about the comparative investment performance of BTC versus XRP over the long term, I’ve recalculated what Microstrategy’s portfolio would have looked like if they had invested the same dollar value in XRP instead of BTC. If Saylor had opted for XRP, the portfolio would be… https://t.co/srq92DRW4l pic.twitter.com/e9Np3ZWJgk

— Matt Hamilton (@HammerToe) July 19, 2025

Examining the performance of both digital currencies over the past five years reveals similar trajectories. Bitcoin has increased by 894% during this period, while XRP has outperformed with a rise of 986%. According to Hamilton’s findings, a sole investment in Ripple would result in a treasury valued at nearly double — over $130 billion compared to $71 billion.

The reason for this disparity primarily stems from two key factors: the significant increase in Strategy’s investments over the past year, which coincided with XRP’s strong rally as its prolonged legal dispute with the Securities and Exchange Commission came to a close.

Bitcoin’s growth over the last 12 months is notable at 75% — rising from $67,000 to $117,000 at the time of this report. However, XRP’s performance far exceeds this, with a remarkable 423% increase from $0.60 to $3.16 in the same period.

As of August 1, 2024, Strategy owned 226,500 BTC, indicating that it has acquired nearly 400,000 BTC within a single year. Diverting this capital to XRP instead would have resulted in a significant difference.

Nevertheless, discussing hypotheticals serves little purpose. As a well-known Italian chef once remarked on British television, “if my grandma had wheels, she would have been a bike.” Presenting these figures would not alter Saylor’s perspective. Here’s why.

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‘Bitcoin Rules Supreme’

As previously mentioned in various articles, Saylor’s stance is unequivocal: “Bitcoin rules supreme and has no rivals.”

He is a staunch BTC maximalist and has previously claimed that XRP is merely an unregistered security. The billionaire even asserts that Bitcoin should dominate 95% of the overall crypto market, leaving the remaining 5% for other digital assets to compete over.

There is a rationale behind this belief. In his view, Bitcoin is akin to digital gold — ideal currency with the potential to reach $1 million in the future, possibly even $10 million in the coming decades. Saylor firmly believes there is no alternative, no plan B, and XRP will never be part of Strategy’s investment strategy.

However, this does not imply that other institutions will share these views — including other treasury firms that are currently emulating Strategy by investing their surplus funds in Bitcoin. Should XRP continue to perform favorably, we may witness increased interest from Wall Street in this digital asset.

The approval of an exchange-traded fund based on XRP’s spot price would significantly contribute to this becoming a reality. As evidenced by Ether’s recent rise, institutions are willing to shift away from Bitcoin and redirect investments into alternative ETFs when the timing is appropriate.

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