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- Formerly a well-known blackjack player and businessman, Steve Wynn predicts that XRP is designed to reach a value of $ 10,000 per token.
- According to Wynn, XRP can achieve that price if used for every retail transaction and cross-border currency transfer.
Steve Wynn, one of the most successful businessmen in the world of gambling and former operator of well-known Las Vegas hotel casinos, spoke in an interview with Forbes about the potential of XRP cryptocurrency and made a price prediction. astronomically high.
Wynn was once a member of the infamous MIT Blackjack Team, a group of Harvard alumni who used card counting techniques to beat blackjack casinos around the world. He also played a key role in the revitalization and expansion of the Las Vegas Strip in the 1990s, founding the Mirage Resort.
XRP is designed to go up to $ 10,000
In an interview with Forbes’ John Navin, Wynn directed the conversation at Ripple’s XRP. Referring to the differences between XRP and other cryptocurrencies, the real estate businessman explained that XRP is designed for instant money transfer and tries to handle all retail transactions and international money transfers. According to Wynn, this translates into intrinsic value:
XRP is instant and at a very low cost. In short, it has a functional use. Right now the price is only increasing on demand and its application has not been adopted to a large extent. When that happens, there will be significant gains.
When asked about a price target for XRP, Wynn said that XRP’s price will only increase based on demand. If XRP is used for every retail transaction and every cross-border currency transfer, it can reach a value of 10,000 USD:
It is designed to be worth 10,000 per coin. This assumes that every retail transaction and international currency transfer use XRP. This is very optimistic and very far. As it increases, I will take profits at certain times, but I don’t have a targeted price to sell it all.
When asked about his stop loss prices for XRP, Wynn said that, like any investment, this depends on the investor’s current financial situation. At the moment, however, it is in “wait and see” mode. This view was also reflected in the answer to the question of how long he wants to keep XRP. Wynn said he plans to keep the XRP token for the long term, no less than 5 years.
When I made the purchase of the coins I was in long term. At least 5 years.
In addition to XRP, Wynn also owns other cryptocurrencies. As he noted, each cryptocurrency has its own use, the value of which determines and evaluates. On this basis he makes his investment decision:
I own some other cryptocurrencies. In short, I’m looking for value. Each coin has a functional use and that’s what I value. How technology will play in the future is what I wonder. It sounds absurd but I like to watch futuristic films from the 80s and 90s and if I see the technology there … it gives me the impression that people expect to see it in the future.
Regarding his investment strategy in general, the American tycoon said he has converted most of his assets into cash and is waiting for the climate to “calm down” before reentering traditional markets.
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