Founder of TechCrunch: sending $ 50 million to Ripple's XRP took 3 seconds, costing 30 cents

TechCrunch founder Michael Arrington says that XRP is by far the best way to move money from one end of the world.

In a new interview with Blockinpress, Arrington has expanded the reason why his cryptographic fund Arrington XRP Capital chose to name itself in XRP.

"So we really wanted to be the first hedge fund to name us not in dollars or some other fiat currency but in a real cryptocurrency.We know that XRP is the best for this because – look, it's a little bit more centralized compared to, for example, Bitcoin, it has its detractors, many people in the United States do not like it But if you need to move a lot of money very cheap and very quickly, do not # 39; is nothing better than XRP.

When you really have to get off and transfer money from our LPs to us, from us to our companies, from us to our LPs – when we hope to earn money for them – it's just fantastic. " [19659003] Arrington says his company's first deal led to a $ 50 million transfer. XRP has facilitated the transfer with huge savings on costs and time compared to traditional methods of money transfer.

"Our first closing was over $ 50 million and we shifted that money in 3 seconds, and it costed 20 or 30 cents to move them $ 50 or something millions of dollars Bitcoin and Ether can not be compared to this . "

The average Bitcoin tax rose to a maximum of $ 54.90 in December, according to BitInfoCharts. Since then this number has dropped to $ 0.55.

Despite the affinity of the hedge fund for the use of XRP, the company is not afraid of holding other cryptocurrencies.

Arrington says that the company currently holds more Bitcoins than any other currency.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin or cryptocurrency. Your transfers and exchanges are at your risk. Any losses you could sustain are your responsibility. Keep in mind that The Daily Hodl participates in affiliate marketing.

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