Senior trader Peter Brandt stated that he maintains his long-standing skepticism towards XRP, adding that developments within the Ripple ecosystem and collaborations with banks have not chang
Senior trader Peter Brandt stated that he maintains his long-standing skepticism towards XRP, adding that developments within the Ripple ecosystem and collaborations with banks have not changed his view.
Brandt argued that a fundamental distinction should be made between Bitcoin and XRP. The experienced trader characterized Bitcoin primarily as a “store of value,” while viewing XRP as a crypto asset focused on transactions and usage.
Brandt stated that while Bitcoin is a speculative tool today, it also possesses store-of-value properties, but he used a rather harsh expression regarding XRP. The experienced trader, distinguishing Bitcoin from use-oriented assets like XRP, directly referred to XRP as a “dumb coin.”
During the interview, the interviewer reminded Brandt of Ripple’s collaborations with banks worldwide and the company’s recent progress, asking if his views on XRP had changed. Brandt, however, maintained his skepticism towards XRP.
Brandt first drew attention to XRP’s supply, arguing that there were question marks regarding the total supply and whether it would expand in the future. However, he acknowledged that XRP could be used cheaply and effectively in transactions.
However, according to Brandt, the fact that XRP is a useful trading instrument doesn’t automatically mean the token should become more valuable. Brandt cited the US dollar as an example, saying that while the dollar can also be used very effectively in transactions, people don’t expect it to appreciate in value simply because of that.
The experienced trader stated that this is also his main argument regarding XRP, saying, “Just because something can be used in transactions doesn’t automatically mean it has to be more valuable.” According to Brandt, the real question mark for XRP is at what point its use for transactions will translate into real economic value for the token.
Brandt also argued that cryptocurrencies should be categorized according to their use cases. He stated that transaction-focused assets like XRP and store-of-value assets like Bitcoin should not be evaluated using the same valuation logic, and placed networks like Ethereum, on which applications can be built, in a separate category.
However, Brandt spoke more positively about Ethereum and Solana compared to XRP. Describing Ethereum as a “good asset,” the trader said he believes both Ethereum and Solana have the potential to reach higher levels. He also stated that he prefers Bitcoin to hold the majority of his cryptocurrency portfolio.
*This is not investment advice.
Continue Reading: Peter Brandt’s Controversial Comments on XRP: “Fool Coin”
