Bitcoin
Institutions Buying and Holding Ripple’s XRP Will Rise in Q3 this Year
The team at Ripple have been doing a spectacular job at hosting ‘Ask Me Anything’ (AMA) conversations with their top execs. A few weeks back, the new CTO, David Schwartz, was interviewed by Asheesh Birla, the Senior VP of Product. In the interview, we got to find out Ripple’s plans with RippleNet, XRP, xRapid and more information about the company and the underlying technology. We also found out that banks are in fear of being disrupted by new technology.
In the AMA, David Schwartz was quoted as saying:
“I talked to a lot of banks, and one of the things that I learned from banks that I didn’t really fully appreciate is that they are in fear of being disrupted by new technologies.”
Brad’s Ask Me Anything Session With Cory Johnson
It is with this background that the team at Ripple have held another AMA. This time around, it was Cory Johnson (Chief Market Strategist) having a lively discussion with the firm’s CEO, Brad Garlinghouse. The duo covered a lot of topics, but one statement by Mr. Garlinghouse stood out.
In the statement, Brad Garlinghouse was answering Cory’s question about Wallstreet and institutional investors, talking about how they want to be more involved in the space as well as solving the issue of custody of digital assets. Brad’s response was as follows:
“One of the things I will tease for a future announcement within the Q3 market reports, which we always share…where we see institutional participation in buying XRP. Q3 will definitely be a record of institutional participation in buying and interest in holding XRP. “
The full AMA is now available on YouTube at the link below.
Another thing worth noting is that Brad had thought 2018 would be the year for institutional participation, but it has taken a bit longer. His new prediction of institutional participation will be in late 2018 or 2019. Brad added:
“I thought 2018 we would as an overall industry see more aggressive institutional participation. It has taken a bit longer. Now I would predict that 2019…the railroad tracks are being laid…You are seeing very interesting companies getting started to solve the institutional custody problem. That sets us up nicely for about the back half of 2018 and also 2019.”
When asked by Cory whether crypto custody solutions for institutional investors will be set up by the ‘big boys’ of Wallstreet or startups, Brad would answer that:
“I think it will start with the [startups]. Often times the big boys react to what is happening with the startups and sometimes they acquire those to bring those capabilities in house. Even as you look at the digital asset exchanges…you’ve seen players globally..and now you are seeing something Bakkt and ICE diving in. Will they at some point partner or participate with other start up players? Probably.”
In summary, Brad Garlinghouse has shared his vision and hope for XRP being bought and held by institutional investors as early as Q3 of this year. He has also seen that his prediction of 2018 where institutional investors dive in will have to wait till the end of the year or early next year.
With Bakkt in the pipeline, the stage is set for possible collaboration between Wallstreet firms and crypto startups on a level that had not been seen until now. The AMA proves that XRP is a good digital asset to consider in an investment portfolio moving forward.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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