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Cardano Founder Going All-In on XRP Integration: Analyst

Albert Brown
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Cardano Founder Going All-In on XRP Integration: Analyst

Charles Hoskinson, co-founder of Cardano, has revealed significant plans to go all-in on XRP integration with Cardano’s blockchain.

This initiative includes a series of projects to enhance cross-chain interoperability and expand Cardano’s DeFi capabilities. According to George Tung, co-founder of CryptosRus, this strategic move is “like everything.”

Notably, on June 14, Hoskinson confirmed in a response on X that his team is working on a full suite of tools to support XRP better. These include the Glacier Airdrop, XRP-powered DeFi tools, and the potential integration of Ripple’s RLUSD stablecoin into the Cardano network.

Glacier Airdrop and Midnight Token Distribution

A major component of the integration plan is the Glacier Airdrop, scheduled for the last quarter of 2025. Initially set for an earlier date, the airdrop will distribute Midnight tokens to users across multiple blockchains, including XRP holders. 

These tokens will be used in Cardano’s privacy-focused sidechain, Midnight. This initiative aims to attract XRP holders to Cardano’s ecosystem, creating new opportunities for token distribution and fostering cross-chain adoption. The Glacier Airdrop aligns with Cardano’s long-term strategy of building a multi-chain environment, integrating various blockchains and their assets.

Integration of XRP with Lace Wallet

Meanwhile, Cardano’s Lace wallet is also moving towards supporting XRP. This update will follow the April 2025 addition of Bitcoin support in Lace version 1.22. With the upcoming version, users can manage XRP alongside other digital assets, including ADA. 

This integration represents a significant step towards making Cardano a more comprehensive platform for managing assets across blockchains. The expansion of Lace’s functionality is part of a broader effort to make Cardano more accessible to users of other major cryptos, especially XRP.

Cardano Exploring XRP DeFi and RLUSD Stablecoin

Hoskinson also confirmed that Cardano is exploring ways to bring XRP into its DeFi space. The initial focus is on developing cross-chain liquidity pools and decentralized exchanges that utilize XRP’s low transaction fees and fast processing times. 

Additionally, discussions are ongoing between Cardano and Ripple to bring RLUSD, Ripple’s U.S. dollar-backed stablecoin, to Cardano’s network. Though no final decisions have been made, both sides see potential in the collaboration, which could enhance Cardano’s DeFi offerings and expand RLUSD’s user base.

Hoskinson earlier speculated that the growth of Cardano over the next five years would largely stem from its collaboration with XRP and Bitcoin. He emphasized that this potential growth could be realized if the Cardano team continues integrating these assets.

Hoskinson further suggested that supporting both Bitcoin and XRP projects would benefit Cardano significantly. He highlighted that such efforts could potentially boost Cardano’s total value locked (TVL), possibly surpassing the combined TVL of Solana and Ethereum.

Coinbase CLO Says It’s Time to Catch Up as Canada Beats the US to a Spot XRP ETF

Elendu Benedict
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Coinbase CLO Says It’s Time to Catch Up as Canada Beats the US to a Spot XRP ETF

Coinbase Chief Legal Officer, Paul Grewal, has reiterated the need for regulatory clarity in the United States following Canada’s launch of a spot XRP ETF.

Speaking in a tweet on Wednesday, Grewal expressed his dissatisfaction with the United States’ slow adoption of cryptocurrency innovation compared to other countries. Specifically, he referenced Canada’s recent launch of an XRP spot exchange-traded fund yesterday, another traditional investment fund the North American country is debuting before the US.

Canada Beats the US, Again

Recall that Canada saw the world’s first Bitcoin spot ETF in February 2021. The Ontario Securities Commission (OSC) approved the Purpose Bitcoin ETF on the aforementioned date, with asset manager Purpose Investments becoming the first to offer such a traditional investment product, giving indirect exposure to the largest cryptocurrency by market cap.

Meanwhile, the US Securities and Exchange Commission approved a Bitcoin spot ETF almost three years later than Canada. The products launched in January 2024, with BlackRock’s involvement and Grayscale’s persistence forcing Gary Gensler’s hand.

Again, Canada has outpaced the US again by launching an XRP ETF, to Grewal’s dissatisfaction. The Coinbase CLO emphasized the need for the United States to “catch up” and set a clear regulatory framework for digital assets in the country.

Remarkably, the United States, under its current leadership, has made significant progress in adopting cryptocurrency. The first major crypto regulation in the GENIUS Act passed the Senate on Tuesday, marking a notable milestone.

Now, Grewal has urged the hasty approval of the crypto market structure bill, a legislation seeking to create a clear regulatory framework for digital assets in the US. The bill, also known as the Clarity Act, recently advanced from the House Agriculture and Financial Services Commission amid bipartisan support.

Spot XRP ETFs Begin Trading in Canada

The Purpose XRP ETF launched on the Toronto Stock Exchange on Wednesday, as institutional interest in XRP begins to pick up. Notably, it is not the first of its kind in the world, as Brazil’s Hashdex had previously debuted a similar product.

Interestingly, another XRP spot ETF also launched on the same day. Canadian asset manager 3iQ Corp. debuted the 3iQ XRP spot ETF on Wednesday, which is still listed on the Toronto Stock Exchange, providing retail and institutional investors with access to XRP without requiring direct ownership.

Meanwhile, cross-border payment giant Ripple also invested in 3iQ XRP ETF, although the specific amount remains undisclosed. This highlights the firm’s support for the fund that tracks the performance of XRP, the fourth-largest cryptocurrency by market capitalization.

Trump Tells House to Pass GENIUS Stablecoin Act “ASAP” to Make U.S. Undisputed Crypto Leader

Lele Jima
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Trump Tells House to Pass GENIUS Stablecoin Act “ASAP” to Make U.S. Undisputed Crypto Leader

President Donald Trump has issued a strong message to the U.S. House of Representatives regarding the stablecoin bill.

He emphasized the need for swift action to establish America as the global leader in the digital asset market.

Trump made the statement on Truth Social yesterday, following the Senate’s passage of the GENIUS Act. In the final vote on the bill, 68 Senators across party lines voted in favor, while 30 opposed it. Following this historic step, the House will now deliberate on the GENIUS Act and schedule its final vote.

“Incredible Bill”

Notably, President Trump took to Truth Social to celebrate the milestone, describing the GENIUS Act as an “Incredible Bill.” According to him, the legislation will position the United States as the undisputed leader in the crypto market, an outcome he pledged to pursue ahead of his re-election bid in November 2024.

He aims to achieve this goal by establishing clear and fair regulations for the crypto industry, which could attract businesses to operate within the U.S. In his view, the GENIUS Act aligns perfectly with his vision of making the United States the dominant force in the global cryptocurrency space.

Trump Reiterates Commitment to Make US Undisputed Leader of Crypto 

In his latest post, Trump claimed that no country can lead the crypto market better than the U.S. Therefore, he stressed the importance of passing clear regulatory frameworks, such as the GENIUS Act, and signing them into law without delay. 

Trump urged the House to act quickly, calling on its members to pass the GENIUS Act without any amendments or prolonged deliberations. He reinforced his message, stating:

“Get it [the GENIUS Act] to my desk ASAP without delays, and no add-ons.”  

It’s worth noting that the Senate took approximately four months to pass the GENIUS Act. During this time, the bill went through a rigorous legislative process, including several amendments and cloture votes, which delayed its advancement.

Should the House propose additional amendments, it could result in further delays, potentially stalling the bill’s passage and preventing it from becoming law on time.

Industry Stakeholders Concerned About Trump’s Message 

In the meantime, pro-crypto journalist Eleanor Terrett disclosed that Trump’s message has elicited reactions from industry stakeholders. 

According to her, top stakeholders have been contacting congressional members to determine how the president’s message might impact the potential passage of the crypto market structure legislation. 

For the uninitiated, the market structure bill aims to establish clear cryptocurrency regulations for market participants, such as token issuers and custodians. It also seeks to clarify the roles of the CFTC and SEC, specifying how they would regulate the crypto market. 

Terrett noted that the House is considering passing the market structure bill alongside the GENIUS Act before Trump’s self-imposed August deadline. 

Here’s How High XRP Price Could Reach if XRP Grows Only 3% Per Month Until 2035

Sam Wisdom Raphael
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Here’s How High XRP Price Could Reach if XRP Grows Only 3% Per Month Until 2035

If XRP manages to climb steadily by 3% every month starting in June 2025, its price could rise sharply over the next ten years. 

While XRP has maintained a price above the $2 support, boasting a 4.53% year-to-date gain, its recent performance has not been encouraging amid broader market tensions. 

XRP Sees Inconsistent Monthly Performances

Currently, XRP trades at $2.17, with a market cap of $128.3 billion. Notably, over the past four months, XRP has demonstrated inconsistent price action. Specifically, the asset slumped 2.56% in March 2025, gained 4.84% in April 2025, and dropped 0.78% last month, May 2025.

Now, in June, XRP is trading flat. While many still feel the current price falls short of its true value, if the asset were able to maintain consistent monthly gains over an extended period of time, its price could see a dramatic change. 

As a result, we recently assessed how much the XRP price would grow if the asset saw 3% monthly gains constantly until June 2035.

XRP Price by 2035 if XRP Grows 3% Monthly 

Starting from its $2.17 base, XRP would likely hit $3.09 by June 2026. That could mark the beginning of a long stretch of steady gains. A year later, in June 2027, the price could jump to $4.40.

Meanwhile, by mid-2028, it might reach $6.26, nearly double its 2021 all-time high. In 2029, XRP could approach the $9 mark, landing around $8.90. By June 2030, XRP could climb to $12.65. Notably, the next year, it might reach $17.97. Further, the price could hit $25.52 by June 2032, then grow to $36.26 a year later in 2033.

The final stretch of this forecast would enter the territory of ambitious price forecasts. If the 3% monthly pace holds, XRP could rise to $51.51 by mid-2034. One year later, in June 2035, the price might reach a staggering $73.22. That’s more than 33 times higher than where it stands today.

For context, a $73.22 price would require a rise of 3,274% from XRP’s current price. While this uptick looks ambitious, the recent assessment shows just how much XRP’s price could grow if the asset could maintain consistent yet small, steady climbs. 

However, markets rarely move this way. For instance, XRP only saw seven months of positive price movements last year, 2024. This year, it has already observed three months of losses out of five. Interestingly, the $73.22 price in 2035 aligns perfectly with forecasts from market analytical resource Telegaon.

Pundit Says We Don’t Have a $100 XRP Yet—Proof the Market Is Still Early

Sam Wisdom Raphael
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Pundit Says We Don’t Have a $100 XRP Yet—Proof the Market Is Still Early

According to The Modern Investor, a well-followed crypto YouTuber, the current prices of XRP and Bitcoin show the crypto market is still early.

The market is Still Early with XRP below $100

For context, XRP currently changes hands at $2.16, while Bitcoin (BTC) trades for $104,855. In a recent video, The Modern Investor argued that with XRP below $100 and Bitcoin still trading way below $2 million, the broader market has yet to mature. 

Notably, his commentary sought to remind everyday investors that they still have time to set themselves up for long-term gains if they act wisely and patiently.

During his analysis, The Modern Investor called attention to a previous disclosure from someone who predicted that XRP would eventually hit $100. While the person didn’t specify a timeline, they suggested the price could climb that high over the course of two, three, or even four market cycles. 

The Modern Investor did not dismiss the idea. Instead, he acknowledged that, logically, XRP could eventually reach that target. He pointed out that people tend to underestimate the power of long-term accumulation, especially when a coin moves through multiple bull cycles.

The Prospect of Holding At Least 10,000 XRP

Moreover, he referenced calls from market pundits like Edoardo Farina, who has challenged investors to procure and hold at least 10,000 XRP, currently worth $21,600. According to him, he does not fully agree with the numerical assumptions in the message. 

He explained that while the heart of the commenter might have been in the right place, the math felt disconnected from reality. The Modern Investor argued that procuring 10,000 XRP tokens is a luxury many investors cannot afford. Interestingly, Farina shares the same sentiment.

In fact, The Modern Investor also highlighted Farina’s disclosure on this, which claimed that owning 10,000 XRP would soon become nearly impossible for 99.9% of people. He agreed with that take and called it an uncomfortable truth.

He mentioned how quickly asset prices can climb out of reach. Years ago, anyone could gradually build up crypto holdings, but that window is closing quickly. 

Window Still Open Despite Missing Out on Lower Prices

Notably, Farina began his campaign months back, when XRP still traded around $0.5, and 10,000 tokens had a worth of $5,000. Today, most cannot afford them. Data from the XRP Rich List shows that investors holding at least 11,000 XRP are now among the top 4% richest. 

XRP Rich List
XRP Rich List

Specifically, there are only 263,206 addresses within this top 4%, representing about 4% of the 6.5 million XRP wallets available today. However, those who already own at least 10,000 or 11,000 XRP would have already positioned themselves for massive gains when the market matures. For example, if XRP does hit $100, then owning 10,000 units would amount to $1 million. 

The Modern Investor shared that many of his viewers have told him they’ve spent the last six years buying small amounts of their favorite coins every few weeks. Some have already reached their investment goals simply by staying consistent. If the crypto assets perform as expected, those people could end up financially secure for life.

He also discussed the growing ability to stake major assets like XRP and Bitcoin. He believes staking will allow investors to earn passive income as they watch their investments grow. Essentially, despite some investors missing out on amassing at lower prices, the analyst still believes the window is open, as the market is still early.

Should Every Investor Own at Least 10,000 XRP If Betting on XRP long-term Potential

Abdulkarim Abdulwahab
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Should Every Investor Own at Least 10,000 XRP If Betting on XRP long-term Potential

The conversation about the importance of holding 10,000 XRP tokens continues to gain traction within the XRP community.

Most recently, widely followed YouTuber The Modern Investor reignited the debate in a tweet. He posed the question to the community, asking whether everyone should own at least 10,000 XRP tokens.

Many community members agree, arguing that this threshold represents a solid position for those betting on XRP’s long-term potential.

Owning 10,000 XRP Makes Sense If You Can Afford It

Community member Jack Joseph commented that if investors can afford it, owning 10,000 XRP makes sense. However, for those earning around $50,000 a year, holding between 500 and 1,000 XRP is more realistic. 

Meanwhile, Joseph added that he wouldn’t recommend investing in XRP before owning some Bitcoin.

Notably, X user Wasabi supported the idea of holding 10,000 XRP but acknowledged that most investors can barely afford 1,000.

He emphasized the importance of dollar-cost averaging (DCA), noting that many of today’s large XRP holders accumulated their positions during the early and most intense phases of the SEC lawsuit. He believes such low price levels are unlikely to return.

Other commentators cautioned that investors should only commit what they can afford to lose and shouldn’t feel pressured to meet arbitrary thresholds set by others.

“It’s a Luxury”

Notably, buying 10,000 XRP requires a hefty financial commitment of around $23,000. In his commentary, crypto founder Edoardo Farina stressed that owning over 10,000 XRP is quickly becoming a luxury, as inflation and economic hardship force retail investors to sell.

Those advocating for this holding often see it as a steppingstone to success. They frequently present hypothetical scenarios in which 10,000 XRP could be worth millions if the price per token surpasses $100.

Recently, prominent XRP commentator Armando Pantoja argued that holding 10,000 XRP could one day be worth $2.5 million. This implies a future price of $250 per token. He compared this milestone to owning 1 Bitcoin or 50 Ethereum, stressing that financially savvy individuals should aim for such holdings.

Currently, fewer than 4% of XRP wallets hold at least 10,000 tokens, highlighting how rare this level of accumulation is. Pantoja and other analysts argue that reaching this threshold could unlock financial freedom.

Once the $2.5 million mark is achieved, Pantoja advises shifting to real estate or investments yielding 3–5% annually to preserve wealth and cover taxes.

Strategy Matters More Than Portfolio Size

In contrast, community figure Xena called the advice to target a specific holding amount ego-driven and unrealistic. She argued that financial literacy and smart strategy matter more than portfolio size. According to Xena, even disciplined small holders can outperform larger ones in the long run.

This contrast highlights two mindsets in the XRP community: one promoting aggressive accumulation, the other advocating for realistic and strategic investing. The ultimate choice comes down to individual preference and risk tolerance.

Bitcoin Could Grow 120% in 2025 If It Follows Typical Third-Year Trend

Albert Brown
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Bitcoin Could Grow 120% in 2025 If It Follows Typical Third-Year Trend

The Bitcoin growth cycle shows a potential increase in 2025 if it follows the typical pattern of the third year in its cycle.

Bitcoin’s price has dropped significantly after briefly reaching $108K this week, falling to around $103K in the past 24 hours. However, according to CryptoQuant analyst Carmelo Alemán, the Bitcoin Yearly Percentage Trend offers a clearer picture of the cryptocurrency’s long-term price cycle.

By looking at Bitcoin’s performance since 2011, it becomes evident that the crypto follows a predictable rhythm, with each three years of growth followed by a consolidation year. 

According to the analyst, understanding this pattern can help investors focus on the broader market forces that have shaped Bitcoin’s price over the years.

The Cyclical Nature of Bitcoin Price

Bitcoin experienced steady growth from 2011 to 2013. In 2011, the cryptocurrency grew by a modest 10.5%, followed by a substantial 156.4% increase in 2012. In 2013, it surged by an astounding 5,549.2%, marking the highest growth rate on record.

This explosive rally was followed by a sharp correction in 2014, with Bitcoin dropping 59.2%. The next two years—2015 and 2016—saw modest recoveries of 34.8% and 120.7%, respectively.

A new bull run occurred in 2017, with Bitcoin climbing 1,287.4%. The following year, 2018, saw a steep 72.2% decline, consistent with the typical post-halving correction. In 2019, Bitcoin rebounded strongly, growing 92.1%.

The uptrend continued into 2020 and 2021, with 2020 posting a 291.1% increase, the highest cycle growth. But 2022 marked another major correction, with a 64.8% drop.

Bitcoin’s recovery resumed in 2023 and 2024, with growth of 156.5% and 118.7%, respectively. Early data suggests that 2025 has registered a more modest 12.5% gain. Alemán believes that if Bitcoin mirrors its typical third-year momentum, it could climb as much as 120%, potentially reaching $205,000 by the end of the year.

Third Consecutive Bullish Year

According to the analyst, if the current trend continues, 2025 could close as the third consecutive bullish year, completing another positive cycle for Bitcoin. 

Other metrics, like Realized Cap, support Bitcoin’s cyclical nature, which reached new all-time highs in 2025.

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Bitcoin cyclical chart | CryptoQuant

On-Chain Metrics and Open Interest Delta

Meanwhile, another significant metric being examined is the 180-day Open Interest (OI) Delta.

According to crypto analytics platform Alphractal data, the OI Delta has recently turned negative, indicating that more leveraged positions closed than opened over the past few months. Major contributors to this decline include platforms like Bitget and CME, which together have seen over $10 billion in reduced open interest.

Historically, a negative OI Delta has coincided with local market bottoms as observed in 2021 and 2023, often preceding significant price rebounds. A reversal in this trend, turning the OI Delta positive, could signal a renewed bullish phase.

Analyst Says Bitcoin Has Topped Out and We Are Now Selling The Top

Mark Brennan
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Analyst Says Bitcoin Has Topped Out and We Are Now Selling The Top

Analyst says we are selling the top amid the current Bitcoin bearish RSI divergence, signaling a potential correction.

Bitcoin’s price has recently reached $105,303, showing a modest 0.02% increase in the past 24 hours. However, it has experienced a 4.13% decline over the past week. As Bitcoin’s price continues to struggle within this stagnation, analyst Captain Faibik highlights a possible topping out, signaling that the current price movement could be nearing its end.

Earlier on, around late 2024 and early 2025, the price of Bitcoin continued to rise, while the Relative Strength Index (RSI) signaled a weakening of buying momentum.

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RSI Shows Weakening Momentum

The RSI, sitting at 61.88 at the time of the analyst’s snapshot, peaked around 80 before trending downward. This shift in the RSI indicates that the momentum behind Bitcoin’s price movement is starting to fade. Historically, such a change often precedes a correction. 

Price Action Confirms Potential Top

Another key factor supporting the possibility of a Bitcoin price correction is the ascending trendline drawn from the high hit in December 2024. Bitcoin has struggled to break past the resistance levels at $109,000 and $111,000 formed around May 19, with the trendline capping its upward movement. 

According to Captain Faibik, these price points, along with the RSI divergence, suggest that Bitcoin may have reached its peak. As the market approaches these resistance zones, the likelihood of a pullback increases, with Faibik predicting a potential move toward the $92,000 to $94,000 range.

A Similar Pattern from 2022

This pattern is reminiscent of Bitcoin’s price action in 2022. Back then, Bitcoin formed a descending trendline after hitting a bottom around $16,000. As the price consolidated, the RSI remained in an upward trend, despite being in the oversold region. This shift in momentum eventually led to a strong recovery in Bitcoin’s price. 

While this comparison highlights a similar dynamic, it is important to note that the current market conditions and indicators suggest a different outcome. As Captain Faibik points out, buying the dip in 2022 worked out well, but the current signals indicate a strategy of selling the top.

Derivatives Market Dynamics Add Context

Meanwhile, data from Bitcoin’s derivatives market offers further insight into the current trading environment. Trading volume for Bitcoin derivatives has seen a slight increase of 1.62%, now standing at $100.76 billion. This uptick indicates growing market activity and interest in Bitcoin futures and options. 

Screenshot 2025 06 18T181613880
Bitcoin Derivatives Data

However, open interest has decreased by 1.37%, totaling $69.70 billion. This drop suggests that traders are closing positions, possibly taking profits amid the recent price uncertainty. Additionally, the liquidations data reveals that a significant number of long positions have been affected. In the last 24 hours alone, $72.32 million in liquidations occurred, with the majority of losses impacting long positions.

Prenetics Becomes First Healthcare Company to Adopt Bitcoin Treasury Strategy with $20M BTC Purchase

Abdulkarim Abdulwahab
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Prenetics Becomes First Healthcare Company to Adopt Bitcoin Treasury Strategy with $20M BTC Purchase

Prenetics Global Limited has become the first healthcare company in the world to establish a Bitcoin treasury.

In a press statement today, the firm announced that it had purchased 187.42 BTC for $20 million via a Kraken custody account, at an average price of $106,712 per coin. This latest move adds to the growing trend of firms adopting crypto assets for treasury purposes.

While the company is following in the footsteps of Bitcoin-forward firms like MicroStrategy and Japan’s Metaplanet, Prenetics is adopting a more comprehensive BTC strategy. In particular, its strategy goes beyond simply holding Bitcoin as a passive reserve.

Notably, the company’s board has approved allocating the majority of its $117 million balance sheet to Bitcoin. In addition, Prenetics is pursuing institutional financing collaborations and planning alpha-generating strategies. These include derivatives trading, yield generation, and structured lending products.

Danny Yeung, CEO of Prenetics, said they have a vision of establishing the most extensive Bitcoin treasury in healthcare. He added that while other healthcare firms are still trying to understand Bitcoin, Prenetics is already building the infrastructure to lead at the intersection of health and digital wealth over the next decade.

Bitcoin Strategy Backed by Elite Crypto Leaders

In tandem with the treasury announcement, Prenetics has nominated former OKEx COO Andy Cheung to its Board of Directors. Cheung brings over a decade of experience in crypto operations and governance, having overseen billions in daily crypto trading volume. 

“This is not about passive Bitcoin storage,” said Cheung. He emphasized that Prenetics aims to actively manage Bitcoin through institutional-grade strategies such as derivatives and yield generation.

Moreover, Prenetics’ move is supported by a strategic advisory team that includes two of the most influential figures in the digital asset space: Kraken executive Tracy Hoyos Lopez and TOKEN2049 founder Raphael Strauch.

Solid Financial Base Supporting the Strategy

A strong financial foundation backs Prenetics’ aggressive Bitcoin strategy. The company holds over $117 million in pro forma liquidity and maintains a debt-free balance sheet, allowing it to pursue high-conviction investments.

For fiscal year 2025, it projects revenue between $80 and $100 million. Its flagship brand, IM8 Health, is on track to exceed a $50 million annual recurring revenue run rate.

Additionally, Prenetics holds a strategic 35% stake in Insighta, which was recently worth $70 million following an investment by Tencent.

Accepting Crypto Payments

Looking ahead, Prenetics plans to integrate Bitcoin into its operational functions, including accepting crypto payments on its IM8 Health and CircleDNA platforms. This approach helps establish a Bitcoin ecosystem that makes digital assets central to the consumer health experience.

With this move, Prenetics is redefining corporate Bitcoin strategy. No longer confined to the tech or fintech sectors, Bitcoin is now entering industries once considered unlikely adopters.

Mexico’s 3rd Richest Man Ricardo Salina Just Bought More Bitcoin, Says It is The Future

Elendu Benedict
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Mexico’s 3rd Richest Man Ricardo Salina Just Bought More Bitcoin, Says It is The Future

Despite the uncertainties hovering around the cryptocurrency space, whales, including Mexico’s third-richest man, are massively accumulating Bitcoin.

Salinas Richardo Pliego, the founder and chairman of Grupo Salinas, appears not to be concerned about Bitcoin’s recent downside. Speaking at an interview at Kitco News, he disclosed that he is stacking the pioneering cryptocurrency in no small way.

Pliego Increases Bitcoin Exposure

Bitcoin is down over 7% from its all-time high of $112,000, with most of the retracement coming after the Middle East crisis. Yet Mexico’s third-richest man is buying in, although unrelated to the war.

Pliego noted that he has increased his Bitcoin exposure in the past week because he knows what’s coming. Recall that the billionaire already has 70% of his entire portfolio in the premier crypto asset and recently noted he is considering going all in soon.

While he did not disclose the amount of Bitcoin that he acquired in the past week, he noted that it was a considerable portfolio increment. Furthermore, he identified that he was not timing the perfect moment to buy but instead just wanted to acquire more Bitcoin in preparation for what the asset holds in the future.

Remarkably, the Mexican billionaire has been vocal about Bitcoin and its potential to transform the financial system. Pliego has persistently advocated for Bitcoin exposure, calling it the future of money. He recently wrote a book titled “The Bitcoin Enlightenment,” where he stated that Bitcoin is the end of fiat.

Bitcoin Is the Future

Meanwhile, Pliego insisted that Bitcoin is here to stay. Although admitting that gold has its place, he noted that Bitcoin is a better asset and will soon outperform it. Notably, he does not share this sentiment alone; proponents like Coinbase CEO Brian Armstrong also believe so, arguing that nations will hold more of the digital asset than gold over time.

Furthermore, the billionaire shared that Bitcoin is the perfect escape from the fraud of fiat currency. He cited Michael Saylor’s statement that fiat has the most terrible track record of debasement, as the US dollar has lost 99% of its value over the past 40 years.

Hence, buying Bitcoin would help escape the hyperinflation maze. “I think the sooner your audience all gets on board the train, the better,” he said.

Pliego also weighed in on Bitcoin’s uncertainty despite claims it is the new gold. When asked why Bitcoin usually drops following every macroeconomic headwind, he assured that while Bitcoin reacts adversely to these conditions, holders should look beyond the daily fluctuations and focus on its long-term trajectory.

Bitcoin trades at $104,701 at the time of writing.

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