Hedge Fund Arrington XRP Capital holds most of the assets in bitcoin (BTC), not in XRP. This told founder Michael Arrington (Michael Arrington), also known as the Creator of the blog TechCrunch, in an interview to CNBC Crypto Trader.
According to Arrington, despite the name of the Fund, in tokens Ripple XRP is stored only 3-4% of its funds, and most funds Arrington XRP Capital is stored in bitcoins. The second most popular asset is the ether (ETH), the Fund holds dollar reserves and even takes investment in tokens Tether. On the question of why initially, the Fund relied on XRP, Arrington said that this cryptocurrency is perfectly suited for international money transfers because they are fast and with almost zero costs.
Arrington also asked to comment on the negative attitude of some members of the crypto community to Ripple.
“In the cryptocurrency sphere is internal strife, a lot of bitcoin maximalists and the like. One thing they all agree on — hatred of XRP, because, in their opinion, is a centralized corporate currency. However, none of this is true”, — shared his thoughts on the founder of the Foundation.
He added that while others are more decentralized cryptocurrencies are trying to find ways to become more efficient, tokens Ripple is already effective. Therefore, the decision to designate the hedge Fund as XRP-fond Arrington thinks is best. The interviewer asked whether vulnerable with this position Arrington XRP Capital to fluctuations in the price of the cryptocurrency Ripple.
“The point is, what asset is essential. We have a very small percentage of funds stored in XRP, the portfolio well diversified,” said Arrington.
Besides, the businessman shares the optimistic views on the future of bitcoin and believes that this year his course will easily reach $25 000. Recall that in late July, the price of BTC began to grow that many players of the cryptocurrency market is regarded as the beginning of a new rally.
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