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Bitcoin Hater Peter Schiff Slams $XRP, Hoskinson Calls $XRP a Great Tech
In a shocking turn of events, notorious Bitcoin hater and economist Peter Schiff has slammed Ripple’s native cryptocurrency, XRP, stating that it makes no sense to add it to the newly announced Crypto Strategic Reserve. The news came as a surprise to many in the crypto community, especially considering Schiff’s previous criticisms of blockchain technology.
In his statement, Schiff questioned the inclusion of XRP in the CSR, arguing that there was no apparent reason for its integration into the strategic reserve. “I get the rationale for a Bitcoin reserve,” he said. “I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, so I understand why someone would want to hold it. But XRP? It makes no sense.”
Schiff’s criticism was met with swift rebuke from none other than Charles Hoskinson, founder of the Cardano blockchain network and a self-proclaimed “fan” of Ripple’s technology. In his response, Hoskinson praised XRP as the best innovation in the crypto space, stating that it is the most secure and reliable digital asset.
“Hold on to your hat, $XRP enthusiasts,” Hoskinson tweeted. “I think the president made the right decision [regarding] the inclusion of XRP in the Crypto Strategic Reserve.”
Hoskinson’s sudden change of heart regarding XRP has sparked debate among crypto enthusiasts, with many calling it a “180-degree turn” from his previous stance on the matter.
For those who may not be aware, Hoskinson previously clashed with the XRP community after he made a statement about unclear laws and regulations being behind the conflict between Ripple and the US Securities and Exchange Commission (SEC). This move was met with severe backlash from the XRP community, with many calling out Hoskinson for his perceived betrayal.
However, it appears that Hoskinson has changed his stance in recent times. The reason behind this sudden change is unclear, but one thing is certain – it has sent shockwaves throughout the crypto community.
Meanwhile, Schiff’s harsh criticism of XRP has also sparked a heated debate among Bitcoin enthusiasts and skeptics alike, with many arguing that his views are outdated and do not reflect the current state of the market.
As the debate rages on, some have taken to Twitter to predict a surge in the price of Cardano ($ADA), citing Hoskinson’s recent comments. Noted crypto analyst @Ali_chart has predicted a potential rally to $2.20 for ADA, citing technical analysis and chart patterns.
It is worth noting that this sudden change in opinion by Charles Hoskinson may be seen as a move towards appeasement or perhaps even an attempt to curry favor with Ripple’s community.
Source: https://bitcoinik.com/peter-schiff-slams-xrp-hoskinson-calls-xrp-a-great/
