XRP, the sixth-largest cryptocurrency by market capitalization, was the topic of a podcast discussion involving Andy Schectman, the President and Chief Executive Officer (CEO) of Miles Franklin Precious Metals Investments, and Versan Aljarrah, the founder of Black Swan Capitalist.
During the discussion, the Miles Franklin Precious Metals CEO claimed that XRP remains an easy pathway to achieving considerable wealth with minimal associated risks.
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The Concept Of Dollarization
Taking to X, Varsan shared a snippet of the podcast, particularly the part where Andy emphasized dollarization.
#XRP presents an opportunity for people to become incredibly #wealthy without taking an enormous risk pic.twitter.com/nQQkb7TwTq
— Black Swan Capitalist (@VersanAljarrah) February 9, 2024
Driving his point, Andy opted for a narrative within the economic discourse of dollarization. The CEO described dollarization as depending on currencies other than the dollar as the primary global reserve currency.
While acknowledging the risks associated with embracing the dollarization concept, Andy maintained that it remains the only means to achieve something sustainable.
The CEO added that despite not having a sound knowledge of crypto assets like XRP, he still sees it as a pathway to acquiring remarkable wealth.
In his exact wording, Andy said, “When I think about something like XRP, not knowing much about it, I would say that it presents an opportunity for people to become incredibly wealthy without taking an enormous risk.”
It is worth noting that Andy’s assertion could be said to stem from XRP’s current selling price. The CEO believes that the crypto asset’s market valuation makes it possible to invest little in anticipation of earning considerable profits once the token’s price appreciates.
Andy Places XRP At The Top Of The Investment Pyramid
The President of Miles Franklin Precious Metals Investments gave a model of an ideal investment portfolio, which he tagged “Investment pyramid.”
According to him, the pyramid base, which is always the largest part of every pyramid, should contain significant investment entities like precious metals, cash locked up in the bank, and a paid-for home.
Andy noted that the middle part of the pyramid will contain assets that can generate returns on investment (ROI). He added that stocks that disburse dividends or treasury-yielding returns for this pyramid part.
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Finally, the top of the pyramid, which is the smallest, occupying roughly 10% of the financial pyramid, can contain other investments, including speculative ones. Andy suggested investment choices like mining shares and XRP for the pyramid top, adding that the investment options at the top of the finance pyramid aim to generate wealth for owners once they skyrocket.
Meanwhile, XRP is changing hands at roughly $0.52 at press time, reflecting a 0.3% decline in the past 24 hours, according to CoinGecko. Its market value says a lot about why it could be a reliable option for remarkable profits with minimal risk involvement.
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