Ripple architect suggests XRP Ledger can facilitate wrapped Bitcoin transactions
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
David Schwartz, a key architect behind the XRP Ledger and former CTO of Ripple, stated that XRP's value cannot remain undervalued for the XRP Ledger to succeed in financial applications. He suggested that the XRP Ledger can facilitate wrapped Bitcoin transactions, allowing XRP to capture value even if Bitcoin is the primary asset.
From 247wallst.com
Why it matters
Schwartz argues that if the XRP Ledger becomes highly successful in financial applications, XRP's demand and value are unlikely to remain low. This discussion relates to the ongoing operational competition between Bitcoin and Ripple as major digital assets.
From 247wallst.com
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- BitcoinSpeculative
Bitcoin might see changes in institutional demand if the XRP Ledger facilitates wrapped transactions.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Ripple's XRPL could intensify competition for BlackRock's Bitcoin productsIncreased institutional utility in BTC via XRPL could intensify competition for BlackRock.Possible
- How could the success of the XRP Ledger affect Stellar's market position?Ripple's XRPL could intensify competition for payment networksPossible
- Aviva Investors may benefit from enhanced XRP Ledger utilityAviva Investors may benefit from increased utility of XRP LedgerPossible
- Evernorth's XRP treasury may benefit from Bitcoin integrationEvernorth's XRP treasury may benefit from Bitcoin integrationPossible
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The entities involved
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Ripple
creator and a developer of the Ripple payment protocol and exchange network.
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Bitcoin
digital cash system and associated currency
- Several prominent investors, including Chamath Palihapitiya and Jason Calacanis, offered new predictions regarding Bitcoin's future price and market ceiling.
- Strategy, led by Michael Saylor, holds large amounts of Bitcoin, which is reflected in its preferred share program STRC and is being reported on by TradingView.