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Bill Morgan Reveals More Public Companies Adding XRP to Their Reserves
In a recent development, renowned crypto lawyer Bill Morgan has announced that more public companies are adding Ripple’s cryptocurrency, XRP, to their reserves. According to Morgan, Quantum Biopharma Ltd and Worksport Ltd have recently made significant additions to their balance sheets.
This trend marks a significant shift in corporate finance as these firms join the growing list of publicly traded entities embracing XRP for its unparalleled speed, negligible fees, and global transfer capabilities. As more public companies begin to adopt this cryptocurrency for cross-border payments and inflation hedging purposes, it seems that the recent SEC waiver has instilled confidence in institutional investors.
The developments follow Morgan’s earlier revelations of several other firms that have either already or are planning to add XRP to their treasuries, thereby underscoring his observation that “XRP’s corporate adoption is no longer a one-off experiment but part of a broader pattern.”
Bill Morgan has been closely tracking SEC filings and monitoring the growing list of companies embracing XRP. According to him, several other firms have followed suit in recent weeks, with some doubling their previous holdings or making significant increases.
It is worth noting that Ripple Labs holds an astonishing 40.7 billion units of XRP, approximately 41% of the total supply. This figure takes on a new light when considering Morgan’s statements regarding institutional interest in this cryptocurrency. If Ripple were to treat its massive XRP hoard as formal reserves, similar to MicroStrategy’s Bitcoin strategy, it could potentially tighten the supply and drive prices upward.
While it is true that XRP does not have native staking capabilities like some other cryptocurrencies, corporate entities can still generate revenue from their holdings through institutional lending programs, liquidity provision on exchanges, or by wrapping XRP on platforms such as Flare for DeFi/smart contract use.
Source: coinpedia.org
