South Korean Bitcoin network developer Jimmy Song said that after the completion of the last roundfunding of Ripple for $200 million, the price of XRP could drop by 98%.
Song commented on recent investments,obtained by Ripple from Tatragon, Japan’s SBI Holdings and Route 66 Ventures. According to him, companies investing in a blockchain venture from Silicon Valley may lose almost all of their contribution.
People investing in Ripple see XRP as a safety net. The price of the coin will drop by 98%, and Ripple will have to reimburse them for losses.
Jimmy Song is well known for his dislike foraltcoins. According to him, there is only one decentralized blockchain in the cryptocurrency market – bitcoin – and all other assets are shitcoins.
Based on materialsnewslogical.com
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