During an interview in Korea with Block in Press, Michael Arrington, Techcrunch founder and partner Arrington XRP Capital said that XRP is better than Bitcoin [BTC] and Ethereum [ETH] in terms of transactions.
The founder of Techcrunch first introduced himself to the passion of the Korean cryptocurrency, after which he spoke of Arrington XRP Capital. The company has a $ 100 million hedge fund and invests only in entities related to cryptocurrency. He also states that most of the business the company is doing in Asia, particularly China and Korea.
He said that the Korean market is "a little opaque for westerns". Although it is easier to visit, it is sometimes difficult to do business in the country. The company is looking for ways to do more business in Korea. He also said that the white collar workers of 40% of the country have cryptocurrencies and that no other place in the world has that kind of property. This means that people can try new things in the country and get network effects easier than anywhere else in the world.
Michael Arrington further explains why the hedge fund company chose XRP as a primary cryptocurrency for its fund. He said that since they are a hedge fund focused on cryptography, they wanted to be the first hedge fund company to dominate in cryptocurrency and not in USD or other legal currencies.
"We thought, in fact, we know that XRP is the best for the first hedge fund company to dominate in cryptocurrency not because it is not a bit more centralized than Bitcoin and has detractors and many people in the United States just like them, and if you need to move a bit of money as very quickly and very cheaply there is nothing better than XRP "
Michael stated that the first closing of the company was about $ 50 million in the United States. They moved the money within 3 seconds and the cost of the transaction was around 20 cents to 30 cents. He also stated:
"Bitcoin and Ether can not compete with that and it's fantastic for that."
The hedge fund partner also adds that XRP is not the only currency held by the company. In fact, the company holds more Bitcoins [BTC] than any other cryptocurrency on the market.
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