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General Director of SBI Holdings: Bitcoin value is zero, Ripple – cryptocurrency №1

SBI's CEO believes that XRP has an advantage over bitcoins, because bitcoins "do not have fundamental value." However, XRP must find a universal appeal before it can beat Bitcoin.

Yoshitaka Kitao, CEO of SBI Holdings, a Japanese financial institution that generates over $ 200 billion in revenue, is very optimistic about XRP and wants to help him take Bitcoin into the market capitalization.

According to Quito, he believes that since the fundamental value of Bitcoin is zero, it falls by 80% compared with the peak. This is rare in the stock market.

The fact that coins will be used more and more in practical use is not easy when it comes to this price. Therefore, XRP in the world of cryptocurrency is probably the number one crypto asset.

Quito also sees that many financial services companies are getting acquainted with XRapid, and are encouraged by more than 200 companies that have joined RippleNet.

One of the most interesting things Kito has made is that he believes that Bitcoin "is still looking for a use case, while XRP already has a utility as a tool for faster and cheaper cross-border payments."

This, of course, is wrong. The reality is that the use of BTC is more dynamic than that of the XRP, which may seem useless at first glance.

BTC can be used not only for cross-border payments, but also as a means of exchange between buyers and sellers, as well as to preserve value.

The utility of XRP is clearly defined because it is owned and operated by a centralized enterprise, which determines what the usefulness of a coin should be. BTC is decentralized and belongs to no one. Thus, anyone can determine its usefulness for himself, for which he considers it to be most valuable in use: a store of money, a medium of exchange, a speculative asset, calculations for inter-payment payments, etc.

XRP may have inter-payment payments, but still does not have cross-border attractiveness: SBI Holdings is an investment firm in both Ripple and R3, which is a technology company in a distributed ledger that uses XRP to settle transactions between cryptocurrency and traditional assets. Therefore, it is not surprising that their CEO is optimistic about the XRP price.

It will be interesting to see if this large financial institution can add value to XRP over BTC. Bitcoin recognizability is significantly higher than that of XRP. This is largely due to the fact that Ripple is centralized.

If Ripple hopes to ever reach the scale of Bitcoin, they may have to offer something that has universal appeal, in addition to a solution for mega-rich financial institutions, to reduce processing costs. Because even if the XRP solution helps ordinary people to get better and cheaper banking services, it will fade anyway compared to the valuable bitcoin offer; which should allow ordinary people to essentially become their banks, completely excluding all intermediaries (including XRP).

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