Ripple and Trump: The Potential for XRP Growth

by Giorgi Kostiuk

2 years ago

With Donald Trump's election to a new presidential term, the cryptocurrency XRP has a chance for significant growth due to new tax freedom initiatives for US-based cryptocurrencies.

Axis of American Crypto Companies

President Trump plans to eliminate taxes on profits from cryptocurrencies issued by American companies. In light of this news, Coinbase's stock has risen nearly 50%. Companies like Hedera Hashgraph, Cardano, Algorand, and Ripple are also expected to benefit significantly.

President Trump wants to eliminate all capital gains taxes on cryptocurrencies issued by U.S. companies.

Support from SBI Holdings

SBI Holdings, one of Japan's largest financial companies, owns 8% of Ripple Labs and actively supports XRP for cross-border transactions. Their stake is valued at 1.6 trillion yen, surpassing the market value of the company itself.

MicroStrategy Strategy for SBI

SBI plans to follow MicroStrategy's example by actively acquiring XRP. This could involve issuing bonds or increasing shares to fund purchases, similar to MicroStrategy's practices with Bitcoin.

SBI Holdings could adopt the MicroStrategy model and start buying XRP.

Trump's plans and the actions of big companies like SBI Holdings could provide a strong impetus for XRP growth, potentially attracting significant institutional investment in Ripple and strengthening the company's position.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Concerns of an AI Bubble Similar to 2008 Housing Crisis

Concerns about a potential AI bubble are being discussed, drawing comparisons to the 2008 housing crisis and the dot-com bubble.

Zainab Kamara3 hours ago

Rising Treasury Yields Impact Stock and Crypto Markets

The recent surge in US 30-year treasury yields is impacting stock and cryptocurrency markets, leading to increased borrowing costs and a preference for safer investments.

Jacob Williams3 hours ago

AI Companies Destroying Books for Training Data Raises Concerns

AI companies are acquiring and destroying physical books to create training datasets, raising concerns about copyright and the preservation of literary works.

Son Min-ho21 hours ago

Cryptocurrency Scams Account for Over Half of Cybercrime Losses

A report by the Consumer Federation of America reveals that cryptocurrency scams have led to significant financial losses, with estimates reaching 807 billion.