Michael Arrington Lauds The XRP Token For Hedge Fund Efficiency And Affordability

Michael Arrington Lauds The XRP Token For Hedge Fund Efficiency And Affordability

In a recent discussion held at the TechCrunch Disrupt conference in San Francisco, Michael Arrington, the partner of Arrington XRP Capital, revealed that he consulted Brad Garlinghouse, the CEO of Ripple, before establishing his new crypto fund.

The discussion’s panel also consisted of Mike Butcher, its host, and Brad Garlinghouse. During the talk, Arrington said that he chose to invest in XRP because of Brad Garlinghouse and the XRP token. Speaking on Garlinghouse, Arrington praised the CEO because of his exceptional business acumen and leadership skills that have seen him at the center of several lucrative business deals.

Additionally, Michael said that his relationship with Garlinghouse transcends beyond business to a personal level. This is the reason why he sought advice from Brad, who was already the CEO of Ripple at the time.

Another reason for choosing XRP, as mentioned above, is the XRP token. Precisely, Michael lauded XRP for its efficiency, swiftness and usability in real world applications. Michael also disclosed that using XRP, his company had moved a whopping $50 million within three seconds to several locations worldwide.

If a similar transaction had be conducted through conventional banks it would have taken three days, and cots much more than the 30 cents charged by XRP. Lastly, Michael noted that although there are many options that offer similar services to XRP, they are unrealistic because they impose higher transactions fees.