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- The CEO of Strategic Business Innovator Group (SBI) shares his thoughts on Bitcoin and Ripple (XRP).
- Ripple (XRP) is expected to gain massive adoption in the long term according to Yoshitaka Kitao, the CEO of SBI.
Yoshitaka Kitao, the CEO of Strategic Business Innovator Group (SBI), a leading financial service firm, has made some notable statements about Bitcoin and Ripple (XRP). The CEO makes clear that Bitcoin is not inherently valuable as an asset. On the other hand, he seems to be very welcoming of Ripple XRP, which he believes will thrive in the long term.
He explains that there has been significant growth in the use of international remittances using DLT (distributed ledger technology). This also includes Ripple’s virtual currency, which is gaining widespread adoption.
A large number of major fund transfer companies have also tapped into the technology and integrated it. In addition to this, the number of companies using RippleNet has also skyrocketed in recent times. He stated:
Major fund transfer companies have also begun to introduce it, and the use of “xRapid” using XRP is becoming more widespread, and the number of companies participating in RippleNet is increasing significantly. Therefore, in that sense, I think that Ripple’s technology will gradually be used in the international remittance field, as well as “XRP”. Virtual currency is difficult without “real demand”, but I believe that solid “real demand” will be born in the future.
Yoshitaka Kitao has also spoken on Bitcoin and its performance, saying that the asset dropped by 80% because its fundamental value is zero. Pointing to Bitcoin’s performance over the years, he highlighted the asset’s inability to regain momentum after underperforming for a long period of time.
Expressing his views on Bitcoin’s potential long-term performance, he explains that adopting the asset might be even more difficult with the continuous price decline, as opposed to assets like Ripple (XRP), which he referred to as the leading digital currency at this time. Kitao asserted.
Since the fundamental value is zero, it will drop by 80% from the peak. This rarely happens in the stock market. According to the law of the rice market, it has long been said that no matter how much the price drops, it will stop at “half price multiplied by 20%”, but virtual currency has continued to fall without stopping. After all, it is because there is no fundamental value. Bitcoin basically has no value. It won’t be easy for Bitcoin to become more and more practical when it comes to that price. Therefore, I think that “XRP” will probably become the number one crypto asset among virtual currencies.
Ripple success at this time indicates that the future of the entire Ripple is much brighter than critics are willing to admit. In the long run, the XRP’s token is also expected to search to new levels, if the SEC loses its current battle with Ripple.
