XRP Investment Could Have Outperformed Bitcoin by $56B

XRP investment could have delivered nearly twice the returns compared to Bitcoin, according to a compelling new analysis by an ex-Ripple insider. This revelation underscores the potentially underestimated value of XRP in long-term treasury strategies.

Matt Hamilton, former developer at Ripple and now Head of Developer Relations at ASIMOV Protocol, recently conducted a side-by-side analysis comparing MicroStrategy’s actual Bitcoin investments to a hypothetical scenario where the company had instead opted for XRP. His conclusion: the company missed out on a staggering $56.8 billion in unrealized profits.

Hamilton analyzed MicroStrategy’s entire Bitcoin buying history and applied the same transaction dates and exact dollar amounts to a fictional XRP portfolio. The results were astounding. While MicroStrategy’s current Bitcoin stash is worth approximately $72.2 billion, the XRP equivalent would have reached $129 billion — a difference of nearly $57 billion.

MicroStrategy made its first bold move into cryptocurrency on August 11, 2020, purchasing 21,454 BTC for $250 million at an average of $11,653 each. This pioneering decision positioned the firm as the first publicly traded company to adopt Bitcoin as its reserve asset. The company then doubled down with several major purchases: 29,646 BTC in December 2020 for $650 million, followed by 19,452 BTC in February 2021 for about $1.026 billion, and 13,005 BTC in June 2021 for $489 million. Over the years, the buying continued with notable spikes.

Between November 1 and 10, 2024, MicroStrategy snapped up another 27,200 BTC for $2.03 billion at an average price of $74,632. Then in February 2025, the firm acquired 20,356 BTC for approximately $1.9 billion, paying about $97,514 per Bitcoin. The company’s most aggressive acquisition window was between Q4 2024 and Q1 2025, amassing 218,887 BTC as part of a $20.5 billion buying spree, inching toward its $42 billion capital raise goal. Most recently, between July 7 and 13, 2025, it secured 4,225 BTC for $472.5 million at an average price of $111,827 per coin.

In total, MicroStrategy now owns 601,550 BTC, acquired at an average price of $71,268 per unit and costing $42.87 billion altogether. Although this leaves the firm with an unrealized profit of about $29.4 billion, Hamilton’s XRP scenario paints a dramatically different picture, proposing an ending value of $129 billion instead of $72.2 billion.

Critically, Hamilton noted that this comparison does not account for market impact. MicroStrategy’s substantial Bitcoin purchases likely drove up BTC’s price, a similar effect that could have happened to XRP had the company executed such large-scale buys. In simple terms, the hypothetical $56B gain might have been even higher under real-life conditions.

Interest in XRP as a treasury asset has started gaining traction. Several companies appear to be mirroring MicroStrategy’s crypto investment approach, but with XRP instead. For example, Everything Blockchain announced a $10 million XRP treasury allocation. They join a growing list of companies making similar moves, including Trident, Webus International, and VivoPower.

Related: XRP Price: $12M Max Pain for Bears

Hamilton’s findings may trigger a shift in corporate treasury strategies, putting XRP in the spotlight among companies looking for newer, potentially more profitable alternatives to Bitcoin. With growing institutional interest and historical performance suggesting higher gains, XRP could well become the next big name in corporate crypto investments.