Arrington firmly believes that Ripple’s XRP was potentially “better” than BTC and ETH in terms of its ability to process transactions. He went on to further explain why the hedge fund firm chose XRP as primary cryptocurrency for their fund. He stated:
“We thought, in fact, we know XRP is the best for that first hedge fund firm to dominate in cryptocurrency not because it’s not it’s a little bit more centralized than say Bitcoin and it has detractors and a lot of people in the U.S just like it. And if you need to move some money like very quickly and very cheaply there’s nothing better than XRP”
The hedge fund partner identified the company’s first closing around $50 million in the U.S. Notably, they moved the money within 3 seconds and the cost of the transaction was about 20 cents to 30 cents. He further added:
“Bitcoin and Ether can’t compete with that and its fantastic for that.”
However, Arrington added that XRP isn’t the only currency held by the company and that they hold more Bitcoins than any other cryptocurrency present in the market.
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.