The Swiss investment fund GAM Global Special Situations Fund has called on SBI Holdings, a significant Japanese financial group, to adopt a transparent approach toward its blockchain and XRP-related investments.
Recommendations for SBI
In an open letter dated December 3, 2024, GAM emphasizes SBI Holdings' undervaluation, suggesting an XRP buyback strategy similar to MicroStrategy's Bitcoin approach. Fund managers believe such actions, including a buyback and transparent communication about XRP holdings, could bridge the gap between the company's market and net asset values.
SBI’s Relationship with XRP
SBI Japan has long supported Ripple and XRP. SBI Remit, a subsidiary, uses XRP as a bridge currency for remittances to the Philippines, Vietnam, and Indonesia. GAM Investments' proposal aligns with SBI's historical backing of Ripple's ecosystem.
Potential Implications for XRP
If SBI proceeds with an XRP buyback, it could significantly impact the token's market dynamics, increasing demand and price. SBI's endorsement would bolster XRP's credibility among institutional investors and could lead to broader market adoption.
The investment strategy proposed by GAM could significantly affect XRP’s market position and reflects SBI's deep commitment to digital assets.
