VivoPower International, listed on Nasdaq, has announced a $100 million acquisition of Ripple shares, offering shareholders access to XRP.
Ripple Share Acquisition
VivoPower International has announced the acquisition of $100 million in Ripple shares. This purchase provides shareholders with access to XRP tokens valued at $0.47 each. According to their official press release, "This acquisition marks our first significant foray into digital asset treasury management and crypto markets through direct Ripple and XRP exposure."
Potential Impact on Corporate Strategies
This decision positions VivoPower as a pioneer in digital asset strategy among U.S.-listed companies, potentially influencing corporate treasury management. As a result, the company stands out as the first to acquire shares in Ripple and to include XRP tokens in its portfolio.
Outlook and Implications
While this acquisition does not immediately alter the circulating supply of XRP or on-chain fundamentals, it sets a precedent for U.S. corporate involvement in cryptocurrencies. It is noteworthy that Ripple Labs holds 41 billion XRP tokens, a significant portion of which remains under escrow.
VivoPower's move may spark interest in cryptocurrency investments among other companies, potentially affecting their approach to asset management.
