On September 29, Panos Mekras, a well-known blockchain consultant and financial technology expert, explained why has invested in $XRP.
Mekras is the Founder of DigitalGen Financial Services, Co-Founder of Anodos Finance, and the author of “Understanding the Crypto Economy: A Full Guide for Beginners.”
Mekras says he holds XRP due to its promising potential, rooted in its highly efficient underlying technology. Mekras is also influenced by the numerous developers and projects innovating within the ecosystem. For him, the appeal of XRP is not primarily based on Ripple’s developments, announcements, or cryptic hints.
Earlier this month, Mekras engaged in a discussion about whether to invest in Ripple’s potential IPO or in XRP tokens. Mekras offered two distinct avenues for investment. The first option is to invest in Ripple’s potential upcoming IPO, which he recommends for those who have greater confidence in Ripple as a company and its underlying business model.
The second option Mekras presented is to invest in XRP tokens. This is for investors who see more value in the XRP Ledger (XRPL), a versatile digital asset platform. In a conversation with a social media user named “Flare Community,” Mekras acknowledged that investing in Ripple is generally considered safer. However, he stressed that for those looking for higher returns, XRP is a more promising avenue.
Elaborating on this point in a dialogue with another user, “HitManTate,” Mekras stated that XRP has “much bigger expected returns” compared to Ripple’s stock. He reasoned that the XRP Ledger has the potential to attract thousands of companies and millions of users, making it a more expansive investment opportunity than Ripple, which is a single company.
When a user named “AurumVoyager” suggested the possibility of investing in both Ripple’s stock and XRP tokens, Mekras agreed but added a caveat. He advised that those who are leaning more toward Ripple and its business model should probably allocate a larger portion of their investment to Ripple’s stock.
Per a CNBC article released on 25 May 2022, Ripple’s CEO Brad Garlinghouse revealed that the firm is contemplating going public through an Initial Public Offering (IPO) after resolving its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). Ripple employs XRP, ranked as the world’s sixth-largest cryptocurrency, to facilitate quicker and more economical international payments. This is achieved by converting traditional currency into XRP and then back into fiat, which results in lower expenses and faster transaction times.
Featured Image via Midjourney