Move over Bill Gates, Warren Buffet, and Jeff Bezos, the Ripple co-founder has taken your place
In the cryptocurrency universe, if you mined or even bought some Bitcoin around seven to eight years ago, you would be sitting on a gold mine right now. Such is the story of Ripple co-founder Chris Larsen, a fintech expert, who has managed to bulldoze the competition and become the ‘richest person in the world’.
Larsen currently holds a 37% stake in Ripple, and according to experts, it has an implied market value of around $320 billion, which pretty much means that the guy is richer than Bill Gates and Warren Buffet.
BREAKING: At RIPPLE’S Implied Market Value of $320Bln – Chris Larsen with his 37% stake has become the world’s richest person bypassing @BillGates & @WarrenBuffett !!! @CNBC @business @Forbes CONGRATS CHRIS !
— George Kikvadze (@BitfuryGeorge) January 4, 2018
Larsen, on the other hand, believes that if Ripple can be given such a huge value, then so can Bitcoin.
“If centralised Ripple is worth $320 (billion) then decentralised Bitcoin is (definitely) going to be worth trillions.”
Don’t worry guys… I’m sure this is totally sustainable.
— The Wolf (@WolfOfPoloniex) January 4, 2018
According to Ripple CEO Brad Garlinghouse, Ripple has done very well because it can be very useful for a low-fee payment method. He does say that while he supports Bitcoin, this cryptocurrency is currently not in a position to solve the payments issue, though there are still merchants around the world that are accepting Bitcoin.
“One of the reasons why I think XRP has done very well recently is… Bitcoin is not in a position to solve a payments problem, particularly when you talk about micropayments.”
What predictions are you going to make around Ripple regarding its sustainability? Will Chris Larsen become richer than ever before?