Mark Yusko on Ripple and the XRP Ledger
Mark Yusko, founder of Morgan Creek, expressed his skepticism about Ripple and the XRP ledger in a recent interview. He believes that the ledger is “corruptible” and lacks real adoption.
Key Points:
– Yusko struggles with the XRP ledger and sees little evidence of its traction, despite announcements.
– The XRP Ledger, launched in 2012, aimed to provide faster and cheaper transactions than Bitcoin.
– XRP experienced a surge in 2017 but hasn’t reached its all-time high since.
– Last month, a judge ruled in favor of Ripple, stating that certain XRP transactions were not securities sales.
– Yusko agrees with the judge’s ruling but criticizes the centralized concentration of XRP and its initial allocation.
Yusko’s Hot Take:
While Yusko ranks Bitcoin as the king and Ethereum as the crown prince among cryptocurrencies, he believes that broader distribution of digital assets is necessary for easy adoption. He places XRP in the “number three stack” alongside Dash and Monero.
In conclusion, Yusko remains skeptical about Ripple and the XRP ledger, citing concerns about corruption and a lack of significant adoption. He believes that Bitcoin and Ethereum are currently the leading cryptocurrencies but emphasizes the importance of broad asset distribution for widespread usage.
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