BTC to Reach $25,000 Soon Says TechCrunch Founder
At the Korea Blockchain Week, Ran Neu-Ner had the chance to interview Michael Arrington, who runs Arrington’s XRP Capital. In this interview, one of the big topics of discussion was the potential to gain Bitcoin EFTs, which would revolutionize the cryptocurrency world. According to Arrington, this and other changes could lead Bitcoin to reach $25,000 within the next few months.
Arrington discussed how he made the XRP token specifically for his company, which resulted in being asked why he chose that token and why he began XRP Capital in the first place. In response, he discussed how easy it is to use XRP for cross-border transactions. Specifically, he said:
“Ripple, or in this case XRP, the actual currency is a really, really good way to move money. We denominate our fund in XRP because it is a fantastic way to move money across borders quickly and at almost zero cost. So, there is a lot of tribalism in cryptocurrency, and a lot of Bitcoin maximalists… The one thing they all agree on is that all of them hate XRP because it is centralized, they think it is corporate-managed.”
To further support his argument, he discussed how much purpose XRP holds in the industry, though other decentralized currencies are working to become more efficient for users. Right now, XRP has a chance to become the denominative force in hedge funds and related accounts.
There are some risks in reaching this point of denomination. He also said that the majority of this fund is diversified, though a small percentage is still held by the company’s fund. The Arrington’s XRP Capital fund is already involved with many applications, exchanges, and other projects. They even have some entrepreneurial efforts in South Korea.
When Neu-Ner wanted to discuss the “cash position” of Arrington’s fund, he replied:
“Let’s say there’s a hedge-fund in Tokyo, if they hold in dollars, isn’t that also a cash position? It’s really hard to know. We hold a lot of Bitcoin; we hold more Bitcoin than anything else. We hold a lot of Ether, we’ve a lot of USD. Occasionally, we hold Tether overnight. So, I don’t know which ones are the cash positions. They’re all either currencies or have different utilities.”
Finally, to wrap up the interview, he brought up the use Bitcoin, in conjunction with the ETFs. Both Arrington and Neu-Ner agreed that this would mean big changes in the cryptocurrency world, especially the market cap for Bitcoin. It is then that Arrington bet that the Bitcoin price could reach $25,000 very soon. He said:
“My entire life has been in cryptocurrency, we’re on bullish on it. But I’m always an optimist, right? I think we’re still gonna hit $25,000 this year easy and I sure hope we’re at a low right now.”