In the wake of Trump’s victory, the financial markets have shown a bullish tendency, with Bitcoin leading the charge. As of now, Bitcoin has reached a trading price of $92,460, marking a 1% increase over the last 24 hours. This surge brings Bitcoin closer to a remarkable $2 trillion market capitalization, as its value continues to climb.
XRP Over Bitcoin, No Chance Says Saylor!
Notably, XRP has broken free from its prolonged stagnation, experiencing a remarkable 50% rally that propelled its value beyond the $1 mark. Despite this impressive performance, Michael Saylor, the chairman of MicroStrategy and a recognized Bitcoin advocate, remains steadfast in his focus on Bitcoin as the ultimate long-term investment. Speaking on the PBD Podcast, Saylor dismissed the notion of recommending XRP to clients, emphasizing his avoidance of assets with counterparty risks, including XRP and even well-established stocks like Apple.
MicroStrategy’s stock has witnessed an astounding 2,735% increase over the past five years, largely attributed to its strategic decision to invest heavily in Bitcoin. Saylor is resolute in his view of Bitcoin as “digital capital” and regards it as the most dependable asset within the tumultuous cryptocurrency market. Despite a U.S. court ruling in July that declared XRP isn’t a security, Saylor appears to maintain a contrary stance.
While his investment strategy is firmly anchored in Bitcoin, Saylor remains optimistic about the broader digital asset ecosystem. He expressed disappointment that tech titans such as Microsoft, Apple, and Google have not yet invested in Bitcoin. Saylor argues that Bitcoin represents a superior alternative to cash reserves, suggesting that if Apple were to invest $100 billion in Bitcoin, it could potentially expand to $500 billion, achieving an impressive 20% annual growth rate.
Under Saylor’s leadership, MicroStrategy has embraced Bitcoin as a key treasury strategy, amassing over 330,000 BTC valued at $30 billion. This strategic move has enabled MicroStrategy to outperform the broader market, prompting Saylor to urge other companies to consider adopting a similar approach.
Take on Stablecoins
Regarding stablecoins such as USDT and USDC, Saylor acknowledged their increasingly significant role, particularly in economically unstable regions like Venezuela and Cuba. He highlighted their potential to modernize global finance and address pressing humanitarian issues. However, Saylor stressed the urgent need for clear regulatory frameworks in the U.S. to facilitate the growth of stablecoins from $150 billion to a possible $10 trillion in the future.
What’s Next for XRP?
Despite the skepticism surrounding XRP, on-chain data reveals a growing demand for the cryptocurrency, with substantial withdrawals from major exchanges. Over the past week, 250 million XRP tokens were withdrawn from Upbit, reducing its reserves to a four-month low of 6.3 billion tokens, according to data from CryptoQuant. Similarly, Binance has experienced a consistent decline in XRP reserves since November 12.
This reduction in exchange reserves suggests increased buying pressure, as investors transfer XRP to private wallets, often indicative of long-term holding strategies. With a diminished supply on exchanges, XRP’s price may experience upward momentum, signaling a potential bullish trend in the near future.
