CEO Of German VC Firm Predicts XRP To Become ‘World Reserve Bridge Currency’
February 28 2024 - 9:00AM
NEWSBTC
Oliver Michel, CEO of Tokentus Investment AG, has made a bold
assertion in the latest episode of Crypto Talk – a series produced
for German television in collaboration with Der Aktionaer,
regarding the future role of Ripple and XRP. Michel, leading one of
Germany’s prominent venture capital firms, provided a deep dive
into the operational excellence of Ripple Labs and the
transformative potential of XRP within the financial sector. Ripple
IPO And XRP Price Expectations Michel praised Ripple Labs for its
professional management and strategic direction, aiming for a major
initial public offering (IPO). He stressed the importance of
Ripple’s approach to solving the inefficiencies of cross-border
payments, distinguishing between the company’s operational
framework and the utility of XRP. “Ripple is a professional company
[…] It’s not a foundation where some people get together and say
we’re going to do something. It’s a professional company with the
ambition of a fairly large IPO,” Michel stated, emphasizing the
solid foundation upon which Ripple builds its services. Related
Reading: XRP Forms Buy Signal, Analyst Predicts Surge To This
Target Delving into the specifics of Ripple’s value proposition,
Michel elaborated on the inefficiencies of traditional banking
transactions across borders, highlighting the advantages of using
XRP as a bridge currency. He detailed, “You give it to the bank,
exchange these euros for XRPs, put them on the ledger, i.e., on the
blockchain, very quickly and without major costs […] This means
that XRP is the bridge currency, XRP Ledger is the blockchain, the
bridge and the liquidity pool.” This process, according to Michel,
stands as a testament to Ripple’s innovative approach to leveraging
blockchain technology for real-world financial operations. Michel
also shared insights into his investment strategy regarding XRP,
noting his expectations for the cryptocurrency’s value. When
queried when he plans to sell, he remarked, “I’ll think about it
when it’s at $5. So, from now on, a tenfold increase. At $10, I
think that would be super good.” These comments not only reveal
Michel’s bullish outlook on XRP but also his nuanced understanding
of the cryptocurrency’s market dynamics. Michel further disclosed
his dual investment in Ripple, holding both XRP coins and shares in
Ripple Labs through Tokentus Investment AG and his family office.
This strategic positioning underscores his confidence in Ripple’s
dual offerings and his belief in their long-term potential. Related
Reading: XRP Price Soars: Analyst Predicts Surge Beyond $200 “I
have XRP coins, both in my family office and in Tokentus Investment
AG. However, we also got involved in Ripple shares very early on,
both via Tokentus and via the family office, via a preliminary
company, via an SPV, a special purpose vehicle,” Michel elaborated,
indicating a comprehensive investment approach towards the Ripple
ecosystem. German CEO Sees XRP As Global Currency Standard
Addressing the future of digital finance, Michel underscored the
significance of XRP and Ripple’s On-Demand Liquidity (ODL) service
in the evolving landscape of Central Bank Digital Currencies
(CBDCs). He posited that Ripple’s infrastructure could become
central to global financial systems, facilitating seamless and
efficient transactions between central banks. “This is actually the
most exciting question […] If the banks work together via the
backend, Ripple’s bridge technology is central, everything revolves
around it,” Michel stated, highlighting Ripple’s potential to
revolutionize financial transactions at a global scale. Despite
acknowledging the competitive landscape, including initiatives like
the JP Morgan Coin, Michel’s confidence in Ripple’s unique value
proposition remains unshaken. He concluded with a compelling vision
for Ripple’s future, “If time plays in Ripple’s favor, then Ripple
may well become the world reserve bridge currency.” At press time,
XRP traded at $0.57769 after being rejected at the 0.5 Fibonacci
level once again. Featured image created with DALLE, chart from
TradingView.com
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