Yahoo Finance Ripple CEO sounds off on Bitcoin, Libra and blockchain balderdash
Bitcoin and XRP are not competitors, Ripple CEO Brad Garlinghouse said in a Fortune interview this week.
The former is a store of value or “digital gold,” while XRP is a “bridge currency” that enables an efficient solution for fiat-to-fiat transfers, he argued. “I own Bitcoin, I’m long Bitcoin. I think Bitcoin is a store of value and people hold it.”
Garlinghouse went on to state that there will not be one single cryptocurrency to “rule them all”. And he also noted that there is “a lot of bullshit in the blockchain and crypto market.” By way of example, he flagged up a recent CNBC article entitled ‘Facebook Launches Cryptocurrency’. Facebook has done nothing of the sort, Garlinghouse pointed out. Rather the social media giant has announced plans to do so in a year from now.
Be afraid, Ripple, be very afraid
Ripple should be losing sleep over Facebook’s Libra currency as it will do away with the need for hundreds of altcoins, including XRP, according to crypto analyst Max Keiser.
In a tweet dated 7th June, he said: “The altcoin apocalypse is nigh. This will drive Bitcoin higher as BTC competes with gold, not fiat”. Crypto payments ventures could also be wiped out, he added.
The $FB global stable coin… FaceCoin obviates need for hundreds of alt-cons including XRP. The alt-coin apocalypse is nigh. This will drive Bitcoin higher, as BTC competes with Gold, not fiat. (Also, crypto ‘payments’ companies likely to wiped out). https://t.co/w38jmtn7RN
— Max Keiser, tweet poet. (@maxkeiser) June 7, 2019
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