The Showdown Between XRP & Bitcoin
Yesterday we did an article titled How XRP Could Be The Best Investment For 2019-20 and we discussed the things that mean it could be a wise choice for investors. You can read the article here.
This is a topic that is discussed a lot in the crypto sphere and another similar subject is that of whether Ripple is bigger than Bitcoin to which some people say it is and others believe that there is no chance, no possible way that this is possible.
If you spend enough time on the internet then you will run into numerous theories that are relevant to the real world and fiction stories but with cryptocurrency, there is like a bullseye painted on its head giving moon landing theorist the time of their lives. There are crypto theorists who believe that the metrics of XRP are being constantly downplayed on site like CoinMarketCap in order to keep the true value of the token a secret from the public.
Big names in the industry like the chief market strategist at Ripple, Cory Johnson seems to be one of these theorists despite working for the tokens parent company. Last week, Johnson took to Twitter to say:
One possible reason behind this is that 100 billion XRP tokens created in Ripple’s Genesis block each token have a market price of 35 cents which sums up to around $35 billion. On sites like CoinMarketCap, they only count the XRP that is circulated in the public for a reported market cap of only $14 billion, at the current time of writing.
With this in mind, it’s worth noting that each of the 17.4 Bitcoins is worth $4,000 at the time of writing giving it a market cap of $69 billion.
“What makes this really interesting is that, at the height of last year’s dizzying bubble, XRP would have actually had a higher market capitalization than Bitcoin, at least under the more generous metric.”
Food for thought.
What are your thoughts? Let us know what you think down below in the comments!