SBI Holdings CEO predicts XRP surge post-legal victory as crypto influencer highlights Kitao’s bullish outlook, including potential Ripple IPO.
In a recent development that has sparked excitement among XRP enthusiasts, Yoshitaka Kitao, Chairman and CEO at SBI Holdings Inc, shared his optimistic views on the future of XRP should Ripple secure a victory against the US Securities and Exchange Commission (SEC).
Tehol Beddict, a long-standing proponent of XRP, highlighted the video snippet of Kitao’s Japanese speech. The snippet quickly spread across the crypto community alongside its English rendition.
@yoshitaka_kitao – what a boss
SBI information meeting
President Kitao: "If the conclusion is reached and XRP is a coin, I think it will be a very expensive price. If the conclusion (of the trial) is positive, I think the management will immediately go public." ?????? https://t.co/z7lv7w8dtR
— Tehol_Beddict_XRP (@TeholBeddictXRP) June 9, 2023
The statement has caught the attention of crypto enthusiasts, as Kitao’s insights hold significant weight. XRP community influencer Eri quoted the update and added context for further clarification.
Kitao’s remarks, translated from Japanese to English, suggested that if the ongoing legal proceedings regarding XRP’s classification as a security conclude favorably, the digital asset’s price could soar.
He further affirmed that Ripple is considering an initial public offering (IPO). According to him, this could potentially lead to substantial capital gains for shareholders, regardless of whether they choose to sell or hold their XRP investments.
SBI Mr Kitao, speaking about #XRP and the CEO (Achi ni =over there (Ripple)) says conclusion in weeks ahead, and if (XRP) found as a “coin”, it will be quite a price and the company will IPO, and that gives a shareholder big capital gain, even if we sell or keep it on the books.… https://t.co/K7vvBupHVs
— ?Crypto Eri ?Carpe Diem (@sentosumosaba) June 11, 2023
Furthermore, the crypto influencer shed light on the unique communication style of Kitao. She likened his speaking manner to that of a Daimyo, a feudal lord in historical Japan, rather than a government PR spokesperson addressing a news conference.
This characterization highlights the confidence and authoritative stance of the SBI president on the matter.
SBI’s Relationship with Ripple
SBI Holdings Inc. is a Japanese financial services company that has been actively involved in the crypto industry since 2016. The company has invested in many crypto startups, including Ripple, Coincheck, and VC Trade.
SBI Holdings has a solid and strategic partnership with Ripple. As a vital bridge between traditional financial institutions and the world of digital assets, SBI has actively promoted adopting Ripple’s innovative solutions, especially in cross-border payments, as reported by The Crypto Basc.
Kitao’s positive outlook for XRP aligns with the argument of numerous influential figures in the crypto space. Recall that a pro-XRP lawyer John Deaton recently argued that XRP would soar to $10 post-lawsuit victory.