Crypto hedge fund Arrington XRP Capital, led by renowned tech personality Michael Arrington, recently reported that its $100 million portfolio is only 3-4% XRP.
In a recent interview with CNBC, Arrington discussed the current capital of his fund, which invests in everything related to digital technology, from equity financing to ICOs.
“The fund has a lot of BTC, more than any other asset, it also has Ether and US dollars, sometimes we take Tether for a day,” says Arrington. It is unclear exactly how much BTC the fund owns, but Arrington noted that the fund has "several million dollars worth of XRP." Speaking about XRP, Arrington said that most investors agree to recognize XRP as a centralized tool for legal entities. He personally views XRP as a stable alternative to many other volatile digital currencies, making the token an ideal option for a hedge fund. “We denominated our fund in XRP because it is a great way to make cross-border transfers, very fast and with virtually zero fees.”
Arrington is one of the most outspoken cryptocurrency bulls. Back in November 2017, he stated that he entered the market with firmness and determination. He currently believes that the BTC price will reach $25,000 before the end of the year. XRP is currently ranked No. 3 on the AltDex 100 Index (ALT100), the benchmark index for large-cap cryptocurrencies.
According to sludgefeed.com
You May Also Like
Judge orders Ripple to hand over employee communications to SEC
Ripple must turn over terabytes of Slack messages to SEC officials.
Is a union between American Express and Ripple possible?
American Express or AMEX is an international financial services company. The company is estimated to be worth $33 billion and has more than 50,000 employees. Essentially, this is a payment giant company. Ripple recently posted an article on their news portal regarding AMEX.
