In a recent conversation with Devin Ryan, who is the director of financial technology research at JMP Securities, Brad Garlinghouse, the CEO of Ripple, disclosed that Ripple possesses over $100 billion in value of XRP tokens.
“The total value of the XRP we own now exceeds $100 billion,” he said.
He believes that this should be taken into account when determining the company’s valuation.
According to Garlinghouse, Ripple has been exchanging hands on the secondary private market at a noticeable reduction compared to its net asset value.
Back in early 2024, Reuters announced that Ripple was estimated to be worth around $11 billion following the purchase of approximately $300 million in shares. Yet, as stated by Garlinghouse, this anticipated value is considered significantly old-fashioned.
“I think it’s safe to assume that the $11 billion is very outdated at this point,” he said.
Simultaneously, the head of Ripple appeared to challenge MicroStrategy’s significantly high price compared to its Net Asset Value (NAV). Yet, he made it clear that he wasn’t against MicroStrategy, expressing hope for their “great success” instead.
Not going public
For quite some time, there’s been talk of a possible Initial Public Offering (IPO) by Ripple. Nevertheless, Garlinghouse has explained that the company had not focused on becoming public due to it seeming irrelevant under the previous SEC leadership.
According to Garlinghouse, Ripple hasn’t emphasized the importance of going public, which wasn’t clear under the previous SEC administration.
The winds have changed
According to Garlinghouse, it is anticipated that Ripple will remain the preferred blockchain infrastructure choice for financial organizations.
He has added that there is “tremendous demand” for the company’s custody solutions.
Moreover, there is also a lot of excitement surrounding Ripple USD (RLUSD).
With the departure of SEC Chair Gensler, who had been critical of cryptocurrencies, Ripple has seen an increase in demand recently. According to Garlinghouse, this surge in interest is becoming somewhat overwhelming.
According to U.Today, most of Ripple’s current job vacancies are located in the United States, marking a significant shift from a year ago.
“I think we find ourselves in a really good place,” Garlinghouse added.
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2025-01-06 23:37