Bring on the Ripple love! At least, that’s what the team over there at Ripple are saying as they bask in the ripples of victory.
What victories? Well, for one, they are continuing their discussions with banks and are partnering with more and more by the week (or so it seems).
Second, XRP has enjoyed a 37,000% rise so far. That’s a significant victory for the company and its supporters in and of itself.
The coin has continued to grow, and it has been blasting off lately as it has appreciated from twenty-five cents a coin in the middle of December, to a current price of three dollars and fifty-three cents.
As the price of XRP, Ripple’s coin, continues to rise, those who hold it also see their wealth increase proportionally.
Guess, how much the executive team at Ripple holds of XRP? Enough to make the Executive Chairman of the company, Chris Larsen to become one of “the richest people in the world” via statements and reports about his holdings in the centralized, bankers, high growth cryptocurrency. Chris Larsen is said to be holding 5.19 billion XRP.
Billions of Dollars in Ripple
The founder of Bitfury, a company that offers services and caters to the cryptocurrency market, has sent out a tweet the other day commenting on the growth of the currency and has noted that Chris Larsen has a thirty-seven percent share in XRP. This means that he holds enough XRP to have a paper value of an excess of 300 billion. Which, provides him worth more than both Gates of Microsoft and Buffet of Berkshire Hathaway.
George, the founder of Bitfury, noted that if the centralized cryptocurrency of XRP has an excess of 300 billion in worth, then that means the decentralized cryptocurrency must be worth somewhere in the trillions, then, he gave a tip of the hat to Chris Larsen.
“BREAKING: At RIPPLE’S Implied Market Value of $320Bln – Chris Larsen with his 37% stake has become the world’s richest person bypassing @BillGates & @WarrenBuffett !!! @CNBC @business @Forbes CONGRATS CHRIS !”
George has also been critical of pumps in the past and notes that Ripple may be experiencing one at the present moment.
In the tweet below, he warns, the Financial Security Institution of South Korea to make sure they are protecting their citizens.
“BREAKING: RIPPLE Implied Market Cap $450 BLN IN KOREA !!! @FSC_Korea You have a Major Bubble Going on with Koreans Valuing RIPPLE MORE THAN SAMSUNG .. This will NOT end well and many Koreans will come to you (rightfully asking) where were you !!!”
Ripples of contention
The aspect of centralization is not sitting too well with those who are partaking in a decentralized world. Others who are watching XRP are wondering as to the nature of the growth of the currency and how long it will last for.
The CEO of XRP has stated that he thinks that the rise of the currency is being driven by the fact that XRP can be of significant use to solve the payments problem while stating that Bitcoin, “is not in a position to solve the payments problem, particularly when you talk about micropayments.”
Micropayments seem to be a big market, and there are many currencies like Stellar that are also building out an infrastructure that would tackle that problem.