2024-8-2 01:26 |
A video created by Levi, a crypto YouTube channel with more than 100,000 subscribers, discusses why you may need to buy at least 1,000 XRP tokens, and how the price and regulation around Bitcoin could make the price more valuable.
The presenter encouraged accumulating XRP and explained why this is important using the journey of Michael Saylor, co-founder of MicroStrategy, as an example.
Based on the video, Michael Saylor has expressed surprise about how long it has taken public companies to adopt Bitcoin’s treasury strategies. Rather than accepting the financial innovation early, many of them avoided it for a long time.
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Show more +Show less – Michael Saylor Accumulated a Lot of Bitcoin Early Before the InstitutionsAs soon as Saylor understood what Bitcoin was all about, his immediate reaction was to buy as many Bitcoins as possible. However, institutional adoption is still slow based on conventional behavior and institutional conservatism.
His desire was not weakened by the lack of institutional interest in Bitcoin. Thus, he got richer as soon as the value of the Bitcoin increased
The SEC approved Bitcoin’s Spot ETFs in January, which legitimized Bitcoin as an institutional digital asset. Before then, accounting practices discouraged institutions from adopting Bitcoin.
However, changes in accounting practices this year have made Bitcoin more acceptable. For broader adoption, the banking system will need to start holding Bitcoin and simplifying the process for large corporations.
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Banks Will Have to Hold XRP EventuallyXRP was designed for the banks. This means that banks will have to hold a lot of XRP tokens. These holdings will benefit both the banks and individual investors.
Many institutions struggled to accept Bitcoin, but XRP accumulation will be much more natural since it was created for them. Thus, XRP is expected to become valuable and spike in price when this happens.
The only barrier to this so far is the ongoing court case with the SEC. After which, XRP could get more adopted and see a lot of institutional accumulation.
The presenter believes that institutional adoption of Bitcoin and other cryptos will increase over the years, and early adopters will benefit significantly, just like those who bought Bitcoin in its early days.
Michael Saylor sees 2024-2034 as a decade of digital capital where Bitcoin will become a store of value. By 2035, 99% of Bitcoin will have been mined, creating a sense of urgency about accumulating the token right now.
Institutions and banks are increasingly endorsing Bitcoin, with the largest bank in America allowing customers to buy and keep Bitcoins.
Acceptance of Bitcoin is expected to help some other major crypto, especially XRP, whose use case is primarily for large corporations. As the video states: “XRP was designed specifically with banks in mind, meaning they’re going to be holding massive reserves of XRP.”
Holding 1,000 XRP now is anticipated to be worth a lot when the banks start to accumulate the tokens.
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The post Why You Need to Hold at Least 1,000 Ripple (XRP) Tokens: A Michael Saylor Insight appeared first on CaptainAltcoin.
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