Pierre Rochard, the CEO of The Bitcoin Bond Company and a long-time Bitcoin advocate, insists XRP will fail to match Bitcoin because it acts as a utility token.
Rochard said this during one of his latest commentaries in which he criticized altcoins XRP, Ethereum, and Solana. According to him, these assets will never overtake Bitcoin because they rely on what he calls the “utility thesis” of crypto.
XRP Will Fail as a Payment Method
Rochard explained that this thesis assumes that a blockchain’s native token will gain value as more people use the network. However, he completely dismissed this idea. To him, any successful company that needs blockchain technology will build its own system of payments rather than depend on someone else’s.
Meanwhile, he argued that Bitcoin does not need outside projects to consume its blockspace in order to thrive. Instead, it draws strength from network effects that are hard to copy, combined with its decentralized nature, censorship resistance, and fixed supply monetary policy.
Rochard made these comments shortly after Stripe CEO Patrick Collison unveiled Tempo, a blockchain created in partnership with Paradigm. Collison described Tempo as a payments-focused network designed for speed, efficiency, and real-world financial use cases.
Introducing @Tempo.
At Stripe, we care about high-throughput, low-latency payments use cases. As the use of stablecoins (and crypto more broadly) grows across Stripe, Bridge, and Privy, we found that existing blockchains are not optimized for them.
For example, it's valuable…
— Patrick Collison (@patrickc) September 4, 2025
He noted that current blockchains fall short for payments because they use fees tied to their own tokens and lack features like cost-efficient batch transfers. However, Tempo can process more than 10,000 transactions per second and has already partnered with major firms such as Shopify, Visa, Revolut, and Deutsche Bank.
Rochard believes Tempo’s launch proved his point. In a previous disclosure, he said token issuance and stablecoins on Ethereum only emerged because of regulatory loopholes. Once regulators provide clear rules, he believes centralized blockchains like Tempo will dominate specific use cases, leaving tokens such as ETH, SOL, and XRP with little value.
Rochard Admits XRP is a Utility Token
This was not the first time Rochard took aim at utility tokens. In August, he argued that making assets like ETH and XRP, which he called “security tokens,” more useful might encourage some adoption, but it would not increase demand for them.
Earlier in the year, he described XRP as a utility token, but claimed it is not a commodity. He admitted the token serves a function, but he insisted that utility alone does not translate into real value.
XRP proponents strongly disagree with this point. They believe XRP’s role as a utility token can drive massive adoption, especially if it helps transform cross-border payments.
The XRP-SWIFT Discussion
Most of them continue to argue that XRP could either complement or replace SWIFT, the global financial messaging system, by providing a faster and cheaper way to settle international transactions.
On the other side, Chainlink advocates have pushed back against the idea of XRP replacing SWIFT. Notably, they often highlight Chainlink’s collaboration with the network as proof that no single blockchain will take SWIFT’s place.
Interestingly, one proponent recently shared a presentation from Chainlink co-founder Sergey Nazarov on how this works. He showed that a SWIFT payment message can be converted into an on-chain event, which then triggers a digital asset transaction.
According to Nazarov, this process allows banks and institutions to use their existing infrastructure while connecting with hundreds of blockchains. He described it as a secure, cost-effective way to settle digital assets and still maintain the standards that financial institutions already trust.
Despite the pushback from the Chainlink community, XRP proponents argue that even with Chainlink’s involvement, SWIFT could still adopt blockchains like the XRPL for settlement. They see Chainlink as a bridge rather than a replacement, and they believe XRP’s design gives it an advantage in improving SWIFT’s payment flows.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
