In a Twitter clip recently tweeted by a crypto influencer; Douglas Borthwick, managing director of the influential Chapdelaine FX, who often appears on networks such as CNBC and Bloomberg to discuss his thoughts on the markets, praised Ripple (XRP), even going so far as to claim that it might eventually overtake Bitcoin.
He elaborated that he believed many fiat currencies would be paired with Ripple in the forex market for a straightforward reason – the dollar requires a 2-day settlement while Ripple’s settlement is instant.
It’s this detail that he believes is a game-changer, and over the next five years, he believes that the Ripple will grow massively in value because of this real-world application, and because of the sheer size of the global markets.
Douglas even goes on to say that he believes that commodities will get paired with currencies, because of this advantage, that will lead to much faster and easier cross-border payments. He thinks that there is no competition considering the fact that Ripple can be settled “in seconds.”
In addition to this, bitcoin is continuously in headlines worldwide because countries are continually shifting their attitudes towards the cryptocurrency. That includes influential figures from all countries, whether they are bankers, politicians, or otherwise, giving their opinion as to whether the currency is a viable option, and whether it should be legalized or regulated in a certain way.
Borthwick points out that Ripple does not seem to have this issue whatsoever – and that in fact, it is supported by many banks and regulators, which already gives it an immense market advantage over bitcoin that cannot be overstated.
— XRP VETERAN ✖️ (@XRP_VETERAN) September 24, 2018
The clip is from a video uploaded by Modern Wall Street, and featured a roundtable discussion at Delmonico’s in New York featuring Jim Rickards, a respected American lawyer who has written extensively about finance, Stephen Guilfoyle, who boasts over 30 years of trading experience, David Williams, the founder and CEO of Williams Capital Advisors, and the aforementioned Douglas Borthwick.
In the clip featured on Twitter, Borthwick spoke on the fact that bitcoin was undergoing forks regardless of the fact that there is a finite amount of bitcoin, while Rickards added that the fact that bitcoin is finite shows that it is limited concerning the growth of global markets.
Considering that bitcoin has a market cap of over 100 billion dollars and Ripple’s market capitalization hovers below $20 billion; time will tell whether Ripple (XRP) will be able to surpass bitcoin in any meaningful fashion. Regardless, the real-world applications of Ripple are undeniable.
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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Photo by Jeff Griffith on Unsplash
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