Ripple CEO ‘Bullish on BTC As A Store of Value' But XRP Is Fixing the Broken Payment Infrastructure

Will Ripple make the push for an IPO in the next twelve months? CEO Brad Garlinghouse seems to think it's possible.

  • Ripple can go public as soon as within the next 12 months
  • Ripple is re-architecting the broken payments infrastructure fundamentally
  • While Bitcoin mining contributes just 1% of global energy consumption is “stunning,” “running a validator on the XRP Ledger is like running a lightbulb”

Ripple CEO Brad Garlinghouse has indicated that the tech company could go public as soon as within 12 months.

While at the World Economic Forum in Davos, Switzerland, Garlinghouse told the Wall Street Journal that this is the “natural evolution” for the company. Ripple SVP Asheesh Birla tweeted Garlinghouse saying.

“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.”

The news of Initial Public Offer (IPO) came after a month of raising $200 million in Series C funding, which valued the blockchain-based payment company at $10 billion. According to Investopedia, Series C funding is helping to boost valuation in anticipation of an IPO.

Overall, Ripple has raised $293.6 million in funding and now with the plans of an IPO, it remains to be seen how much it would raise this time.

Ripple will remain incentivized in the success of XRP

Although “not directly correlated” with its digital asset XRP, trader Credible Crypto says, they are “indirectly correlated.” And because Ripple owns 60 billion out of the total 100 billion XRP,

“They will remain as incentivized as ever (even more so) in the success of XRP as a higher price will directly benefit their bottom line and thereby their shareholders.”

Just yesterday, Ripple released its Q4 2019 market report where it reported a drop of 78% in XRP sales. The firm sold a total of $13.08 million worth of XRP in Q4 versus $66.24 million in the previous quarter. With this lowest sales figure in the past three years, the total amount sold by Ripple so far has been $1.22 billion worth of XRP.

Bullish on BTC as a Store of Value

Speaking with WSJ, he also said that there won't be only one crypto, Bitcoin, to rule them all, however, he is

“bullish on BTC as a store of value, but not for payments. You don’t want to use BTC at Starbucks b/c by the time you get your coffee, it’ll be cold.”

Further comparing Bitcoin and XRP’s energy consumption, he said,

“We’re here at Davos where climate change is a big topic… 1% of global energy consumption is Bitcoin mining – that is stunning! Running a validator on the XRP Ledger is like running a lightbulb.”

Ripple is re-architecting the broken payments infrastructure fundamentally

He also talked about the “broken” payments infrastructure that Ripple is focused on fixing right at the core because “those who have the least, pay the most.” By dramatically reducing the cost of remittances, Ripple, he said changes the ability for billions of people, especially immigrants, “to participate in the financial system.” Garlinghouse said:

“We’re victims of a broken global payments infrastructure… You could remodel the house—which SWIFT is doing—but you won’t fundamentally fix the problem unless you rearchitect the house from the ground up, which Ripple is doing.”

[Also Read: US Treasury Secretary ‘Absolutely Support' Ripple at World Economic Forum in Davos]

Ripple (XRP) Live Price

1 XRP/USD =$0.1780 change ~ 0.62%

Coin Market Cap

$7.71 Billion

24 Hour Volume

$136.45 Million

24 Hour VWAP

$0

24 Hour Change

$0.0011

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,471FansLike
2,795FollowersFollow
4,194FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Kraken Exchange Onboards Swiss Bank InCore to Help Euro Clients Buy Crypto With Fiat

Swiss Bank InCore has just become the first banking institution in the nation to provide banking services to Kraken crypto exchange. The deal, which was...

Bank Of Japan (BoJ) Launches ‘Technical' Study to Experimenting CBDCs

The race to launch a sovereign digital currency is heating up as Japan became the latest country to venture into a central bank digital...

This Top Coin, Being the Worst Performer of 2020, Is A Disappointment to the Crypto Market

The fourth-largest cryptocurrency by market cap is currently trading at $0.176 in green by 1.66%, like the majority of the market. With 8.61% losses In...

Cryptocurrency Payment Processor BitPay Finally Announces Support for SegWit

Bitpay, the crypto payment processing giant, has finally integrated the segregated witness (SegWit) protocol, a second layer scalable solution to make bitcoin processing cheaper....

Crypto Hardware Wallet Ledger: ‘Funds are Safe' After ‘BigSpender' Vulnerability Found

A vulnerability was recently discovered by ZenGo in popular cryptocurrency wallets Ledger, Edge, and BRD. Named BigSpender, the vulnerability could lead to a double-spend...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today