XRP Pundit: First Thing You Should Do When You Become a Crypto Millionaire

Reaching millionaire status through cryptocurrency can involve difficult financial decisions, and Lewis XRP has offered his view on how holders should prepare for that moment.

In a video attached to his X post, the crypto enthusiast explained how he would manage his holdings after reaching significant wealth.

Lewis began by addressing people who hold XRP, XLM, or XDC, which he named “ISO 20022 tokens.” He told these holders not to sell their crypto. Instead, he advised them to avoid converting their holdings into dollars and to contact an accountant who works with high-net-worth individuals.

Lewis said investors should establish that relationship before they reach millionaire status. He explained that emotions could affect their decisions once their crypto holdings generate substantial wealth. He said having an accountant available would give investors someone to contact before making major financial decisions.

Lewis XRP Recommends Taking Out Up To 20%

Lewis then described the likely approach he would take with a $1 million crypto portfolio. He suggested taking between 0% and 20% from the portfolio before placing the remaining 80% with an institution.

He said investors could use that initial portion for personal expenses. Lewis said buying a car and placing money into an escrow account for children are examples of how someone could use those funds.

For the remaining 80%, Lewis recommended approaching institutions that offer crypto-related services. He cited PwC and BlackRock and said holders could ask institutions about their crypto staking rates.

Lewis used a potential annual yield of between 7% and 15% in his example. At a 15% return on $1 million, the investment would generate $150,000 annually. He presented that income as a way for the investor to maintain wealth while continuing to hold crypto.

Lewis XRP Warns Against Spending Everything

Lewis also advised crypto millionaires not to spend their entire portfolio on luxury purchases. He specifically mentioned buying a Lamborghini and said investors should instead consider institutional services for their remaining holdings.

He claimed that $1 million could be a relatively small amount compared with the value he expects crypto holdings to reach if investors wait for their intended use cases to develop.

Lewis then returned to XRP and said institutions would need the asset for their activities. He described XRP as highly valuable to those institutions and said that demand would continue because of its expected utility.

Lewis XRP Says Selling Into Dollars Should Come Last

Lewis concluded by reinforcing his main recommendation: crypto millionaires should not rush to convert their entire holdings into dollars. He encouraged investors to retain most of their crypto and explore institutional options that could potentially generate income.

His 7% to 15% figure represents an example from the video, not a guaranteed return. Actual rates, available services, eligibility requirements, and regulatory treatment can differ between institutions and jurisdictions.

Lewis’s message ultimately focused on preparation and wealth management. He encouraged crypto holders to establish professional financial support early, take only a portion of their holdings for personal spending, and consider institutional services for the remainder rather than immediately selling their crypto for dollars.