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Financial Institution Proposes a $2.4 Trillion XRP Buyback
In a groundbreaking move, GAM Investments has proposed a massive $2.4 trillion XRP buyback plan for SBI Holdings, Japan’s financial giant. This strategic maneuver is poised to unlock the potential of XRP amidst soaring global debt and could have far-reaching implications for the cryptocurrency market.
The proposal comes as Ripple’s XRP value has surged 500% in recent weeks, fueled by the successful launch of RLUSD stablecoin and speculation surrounding the XRP ETF. Meanwhile, SBI Holdings has been underutilizing its substantial XRP reserves, with the current market cap at JPY 1.2 trillion, significantly lagging behind the estimated value of its Ripple holdings at JPY 1.6 trillion.
In an effort to address this disparity, GAM Investments is advocating for a large-scale buyback of XRP by SBI Holdings. By reducing the circulating supply of XRP, this move could potentially boost the cryptocurrency’s market value and increase SBI’s capitalization to JPY 3.9 trillion ($2.4 trillion).
Source: cryptonewsland.com
