Michael Saylor Expresses Concerns Over XRP, Sparks Speculation in the XRP Community

• Michael Saylor’s remarks sparked reactions from the XRP community, which has opposed his dismissive views on their token.
• Despite his Bitcoin maximalism, Saylor expressed optimism about the broader digital asset market’s potential to grow from $3 trillion to $500 trillion.

Michael Saylor, chairman of MicroStrategy and known Bitcoin advocate, has reiterated his focus on Bitcoin specifically while discussing other digital assets such as XRP. On the PBD Podcast, Saylor had sharpened his exclusivity towards Bitcoin, saying he has no plans to be an advocate for other cryptocurrencies or securities. Moreover, he even dismissed the narrative of ever supporting Ripple’s XRP.

Michael Saylor’s Take On Ripple’s XRP Token

“I am 100% Bitcoin-only,” said Saylor, leaving no doubt that XRP is definitely not something he would be supporting. This, he explained, is not a stance against certain projects but because he holds a more overriding policy of any counterparty risks.

According to Saylor, “Securities have counterparties.” In his words, this principle extends beyond the realm of cryptos and other financial assets. He noted he would not tell people to put their money into big stocks like Apple; instead, he would ask them to become heavily invested in Bitcoin as “digital capital” and a perfectly safe long-term investment.

The statements seemed to suggest that Michael Saylor insists on viewing XRP as security despite the fact that a court in the United States pronounced otherwise in July. 

Despite that apparent Bitcoin orientation, however, Michael Saylor seemed enthusiastic about broader digital asset innovation. He addressed the potential growth of the digital asset market from its current valuation of $3 trillion to a staggering $500 trillion, provided that there are ethical, economic, and technical standards at play.

“I’m very much in favor of digital innovation,” he said but made responsible commercialization a benchmark for commerce. These comments by Saylor stirred reactions from the XRP community, which has repeatedly pushed back against his Bitcoin maximalist perspective.

His comments reflect his emphasis on Bitcoin stability as MicroStrategy continues to acquire BTC with the latest $4.6 billion acquisition, per the CNF report. Nonetheless, the rapidly expanding ecosystem of XRP and its backers continue to promote the project as relevant to the digital economy.

Cardano & Ripple Partnership

On the other hand, Cardano founder Charles Hoskinson ended his hostility with XRP. Recent meetings between Hoskinson and executives from Ripple have stirred speculations of a Ripple-Cardano collaboration. Midnight protocol, the privacy-focused sidechain still in beta testing by Cardano, seized the limelight during the discussion with Ripple CEO Brad Garlinghouse and CTO David Schwartz, reported CNF.

Hoskinson confirmed engaging in a technical discussion with Schwartz about integrating Midnight with Ripple’s XRP Ledger. This could indeed enhance privacy features while maintaining compliance. He also expressed interest in participating in Ripple’s stablecoin initiatives.

Furthermore, Hoskinson’s meeting with Jed McCaleb, Ripple co-founder, and Stellar’s creator, suggests further potential for collaboration. While specific details remain under wraps, the meetings indicate a growing alignment between the networks.

As reported by CNF, following his recent apology to the XRP community, these discussions signal a shift towards collaboration. If realized, a partnership between these blockchain ecosystems could go a long way with advanced innovation in privacy, compliance, and stablecoin solutions.