Ripple, a global payment company, may shift its core business model, according to recent statements by Bitwise CEO Hunter Horsley.
Changing Ripple's Identity
Hunter Horsley suggests that within the next year, Ripple could be referred to as an 'XRP treasury company', reflecting increasing corporate trends exploring cryptocurrency utilization.
Current Ripple Assets
According to the latest XRP market report, the company's total holdings amount to 4.56 billion XRP. Additionally, there are 37 billion XRP tokens kept in escrow, indicating Ripple's significant influence over the overall cryptocurrency supply.
XRP as a Treasury Reserve Asset
Several public companies are already exploring the concept of XRP treasuries. For example, Trident Digital Tech Holdings aims to raise $500 million in XRP, while Webus International targets $300 million. Furthermore, VivoPower International and Wellgistics Health have secured $121 million and $50 million respectively to develop their XRP reserves.
The potential shift in perception of Ripple as a company may lead to new opportunities and challenges within the cryptocurrency sphere. The development of XRP as a reserve asset opens up new horizons for business and market growth.
