Arrington Capital Founder: “We Moved $50M Worth of XRP In 2 Seconds for 30 Cents”

A recent post by crypto enthusiast JackTheRippler has drawn significant attention to a statement by Michael Arrington, founder of Arrington Capital, regarding the speed and cost-effectiveness of using XRP for large transactions.

In a video clip attached to the post, Arrington detailed his experience moving $50 million worth of XRP in just two seconds, with transaction fees amounting to only 30 cents.

Arrington’s Perspective on XRP’s Utility

In the video, Arrington expressed his frustration with the tribalism within the cryptocurrency industry, particularly the widespread criticism of XRP. While acknowledging the presence of Bitcoin maximalists and other crypto factions, he stated that XRP’s capabilities are often overlooked. Arrington emphasized that XRP is particularly effective at facilitating fast and low-cost transactions, making it a valuable asset for specific use cases.

“We did our first close, we moved north of $50 million into the company in XRP in like two seconds, and it cost 30 cents. Now, that is amazing,” Arrington stated. He compared this efficiency to traditional financial systems and other cryptocurrencies, noting that neither fiat currencies nor Bitcoin could achieve such speed and affordability in transactions.

Arrington also highlighted the advantages of using XRP for fund transfers in his hedge fund. By transacting in XRP, Arrington Capital can avoid lengthy delays associated with international wire transfers and the fees imposed by banks. He further explained that when limited partners (LPs) redeem their investments, the process is seamless due to XRP’s rapid transaction speed.

Neutral Stance on XRP’s Broader Market Role

Despite his praise for XRP’s functionality, Arrington clarified that he’s not advocating for XRP beyond its practical use within his fund. He acknowledged that while XRP is beneficial for certain purposes, Arrington Capital’s investments extend beyond it. He also stated that the firm invests in XRP but emphasized that it represents less than 5% of its asset base.

Community Reactions

JackTheRippler’s post quickly gained traction among crypto enthusiasts, sparking discussions on XRP’s potential in the payments sector. An X user, Alessio Meloni, responded with enthusiasm, stating:

“BOOM! That’s the power of #XRP! Michael Arrington just proved what we already knew: XRP’s speed and efficiency are unmatched! Moving $50 million in 2 seconds for just 30 cents? That’s next-level! The future of payments is here!”

Many within the XRP community echoed similar sentiments, reinforcing the belief that XRP remains one of the most efficient digital assets for high-value transactions.

Arrington’s statements reaffirm XRP’s strong utility in cross-border transactions and institutional finance. While debates about different cryptocurrencies continue, his real-world experience demonstrates that XRP’s speed and low transaction costs provide tangible benefits for businesses and investors. As digital assets evolve, XRP’s role in efficient payments remains a topic of interest in the crypto industry.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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