Ripple and its digital asset, XRP have become more and more popular, and the company’s products have been seeing increased adoption as we have reported on a daily basis.
Both the company and its coin managed to have a massive impact on the global payment industry.
Michael Arrington supports Ripple and XRP
TechCrunch founder Michael Arrington agrees, and he recently said that it is possible to shift $50 million worth of XRP in only two seconds and at the tiny price of just 30 cents.
Arrington believes that XRP is both fast and cost-effective.
This is not even the first time that the founder of the digital assets management company has expressed his positive ideas towards Ripple.
Back in August, he spoke to a news outlet in South Korea, and he said that XRP is a solid contender for a base currency for hedge funds due to its cheap, efficient and “fantastic” nature.
He also made sure to repeat his views on the massive potential that XRP has during a recent interview on the sidelines of the Beyond Blocks Summit 2018 in South Korea.
$50 million worth of XRP, moved in 2 seconds
Arrington also noted a recent use case of the crypto at his own hedge firm where Arrington XRP Capital was able to transfer $50 million worth of XRP in two seconds.
He said that this would not be possible with any other currency that’s in circulation today, either crypto or fiat.
“There’s just no [other] way to do it that fast and that cheaply. So, it serves a really useful need for us. Also, When our LPs have redeemed … hopefully never … but when they want some of the money back, we [can] just send it in XRP again. And, there is no three-day wait for international wires or one-day wait for US wires,” he said.
He also made sure to highlight the fact that Ripple is a legit company and they don’t pretend to be something that they are not.
He concluded that Ripple is good at one thing: “Moving money fast and cheap.”
Arrington also said that his support for XRP and Ripple is not motivated by business reasons and he also invested in other coins as well.
