A famous crypto influencer and XRP devotee recently shared a clip from FOX Business News where the roles of bridge assets such as XRP were discussed.
For context, bridge currencies are a special breed of intermediary currency that enhances transactions between two financial systems.
BOOOOOOOOOOOOOOOOOOM!!!
— JackTheRippler ©️ (@RippleXrpie) January 11, 2024
They are talking about a "Bridge Coin"
I guess they are talking about #XRP! 🚀📈
➡️ @RealHerber pic.twitter.com/bA6Zjq1px3
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Conversation Between Journalists And Adam Johnson
Adam Johnson, the Portfolio Manager of the Bullseye American Ingenuity Fund, engaged some journalists in a discussion, where they shared insights into the prospects of institutional buying following the United States Securities and Exchange Commission’s (SEC) approval of Spot Bitcoin Exchange Traded Fund (ETF).
Johnson argued that financial firms have not fully adopted institutional buying of cryptocurrencies. He drove his point by citing an analogy.
According to Johnson, in a scenario where the Bank of Mitsubishi in Tokyo intends to transfer $100 million worth of Yen to its New York branch, the conventional method would require that the bank possess $100 million worth of Yen in Tokyo and a similar amount in dollars in New York.
Johnson noted that the method described above would tie up 200 million in both involved currencies. The portfolio manager added that cryptocurrency incorporation will be an intermediate to free up 50% of the 200 million sum.
Meanwhile, despite acknowledging financial firms’ reluctance to fully adopt the bridging mechanism, Johnson remains optimistic about a complete adoption happening soon. He remarked, “We haven’t made that jump yet, but it looks like it’s coming, I think so.”
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Comments And Reactions From The XRP Community
Johnson’s statements sparked several reactions and excitement among XRP community members. Despite not mentioning XRP in his comments, they seemed convinced he was referring to the coin.
Among the numerous X users that reacted to the shared clip, Linda Jones, a Wall Street financial expert, commented, “Wow! Finally, they are talking about XRP, even if they aren’t saying it’s XRP. We know!”
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While most X users seem to suggest that Johnson was referring to XRP, there were quite a few with different opinions.
An anonymous X user stated, “Is that what you got from the video. If he was talking about XRP then he would have mentioned it.”
Some comments suggested coins like XLM, Bitcoin, and others. However, the majority were hinged on XRP. It is left to see how events unfold.
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