Yoshitaka Kitao, CEO of SBI Holdings said, said that the bank plans to support Ripple startup. This increases acceptance of the XRP token and push its course to new heights. SBI generates over $ 200 billion in revenue and is very optimistic about XRP.
“In the current environment, we maximize efforts to use XRP. On the other hand, we will provide investment instruments that offer virtual currencies to institutional investors. ” the head of the holding said.
Kitao spoke about his belief that it was Ripple and the XRP token that could revolutionize the cryptocurrency industry. He sees great potential in startups and tokens, and therefore decided to offer his help in promoting this digital asset.
He also believes that since the fundamental value of Bitcoin is zero, it falls by 80% compared with the peak. The fact that coins will be used more and more in practical use is not easy when it comes to this price. Therefore XRP in the world of cryptocurrency is probably the number one crypto asset.
Kitao said that Bitcoin “is still looking for a use case, while XRP already has a utility as a tool for faster and cheaper cross-border payments.”
“I do not see much value in Bitcoin. The current price of Bitcoin makes it more and more difficult to use it for practical purposes. So, I think XRP will become # 1 cryptoactive. And we want to achieve this, ”said Kitao.
This, of course, is wrong. The reality is that the use of BTC is more dynamic than that of the XRP and it may seem useless at first glance. BTC can be used not only for cross-border payments but also as a means of exchange between buyers and sellers as well as to preserve value. BTC is decentralized and belongs to no one and hence anyone can determine its usefulness for oneself and for which one considers it to be most valuable in use like a store of money, a medium of exchange, a speculative asset, calculations for inter-payment payments etc.
Note that Ripple solutions for international transfers attracted a significant number of customers and partners. They enable fast cheap and simple cross-border translations.