Making Millions in XRP: Bitrue Sparks Debate on Reinvesting in XRP or Buying Tesla

Bitrue, a well-known cryptocurrency exchange that supports XRP, asked crypto enthusiasts to choose between investing $1 million in XRP or buying a Tesla.
Bitrue recently published a post on X asking the crypto community what their best options would be if they somehow got $1 million in XRP.
Specifically, the exchange asked investors whether they wish to use their newly acquired $1 million to purchase more XRP, or take profits and purchase electric vehicles from Elon Musk-led Tesla.
“You just made $1 million from XRP. Would you buy more XRP or Tesla?”
Bitrue asked curiously.
Community Response
The post received significant response from community members, with over 106.7K views in 24 hours.
One of the leading commentators, Generation Infinity CEO, King Solomon humorously stated that in this situation, the last thing he would consider is buying a Tesla or investing in more XRP assets. This suggests that he is not interested in either option.
X user CoreumPower questioned the rationale of selling his XRP tokens to realize $1 million, let alone buy a car. Mickle, a well-known figure from XRP Army, expressed a similar sentiment, asking:
“Why would I sell XRP just to buy more XRP, instead of keeping XRP?”
Furthermore, Mickle noted that these sales would create avoidable taxable events.
Likewise, X user Zach Scott believes that not too many tokens should be sold to achieve $1 million. Scott noted that his goal from cryptocurrency investing is passive income, which will help him have more leisure time.
Notably, some commenters even interpreted Bitrue’s post as a hint of developments that could significantly impact the value of XRP, potentially leading to some people becoming millionaires.
Invest in XRP or Tesla?
On October 9, 2014, Tesla launched a revised version of its best-selling Model S at a price of $69,900. On this date, XRP was trading at $0.00486, according to historical data from Coingecko. If investors purchased XRP assets on this day, they would receive approximately 14.38 million XRP.
At XRP’s current price of $0.5757, the 2014 XRP portfolio is worth a staggering $8.28 million. This hypothetical calculation suggests that investing in a digital asset like XRP could be more profitable than buying a liability asset like a Tesla car.
$1 million from XRP: Doubts abound
Meanwhile, skeptics like Jödes suggest that earning $1 million from XRP is a far-fetched dream. In particular, Jödes humorously stated that a person would need to wait about 20 years to hold 2 million XRP purchased at $0.50 each.
Likewise, X user Hodlmonkey said:
“You can make $1 million by buying $2 million worth of XRP and then waiting a bit.”
Basically, these comments express skepticism about XRP’s potential to generate $1 million for investors. These views reflect the widespread belief that XRP is an underperforming asset despite its utility.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to perform thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.