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Bitcoin Potential as a Store of Value Sets It Apart from Other Digital Assets: Fidelity

Elendu Benedict
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Bitcoin Potential as a Store of Value Sets It Apart from Other Digital Assets: Fidelity

Prominent asset manager Fidelity has highlighted Bitcoin unique features and functionalities in comparison to other cryptocurrencies in a recent report.

It buttressed Bitcoin’s exceptionalities in a recent Coin Report publication, shared in a Friday tweet. The $6 trillion asset manager discussed the facts, strengths, and weaknesses of the pioneering cryptocurrency, including its potential use case.

Bitcoin As a Store of Value

Fidelity branded Bitcoin as a potential store of value, a term used to classify assets that retain their purchasing power over time. Interestingly, this distinct quality is rare not just in the digital asset industry but in the global financial market, placing Bitcoin on an exclusive list.

Bitcoin has continued to grow over the years, outperforming even the best asset classes globally. Notably, BTC has outpaced even gold, an asset considered the best store of value over the past five years. The leading cryptocurrency has increased by 951% within this timeframe compared to gold’s moderate 57% uptick.

Meanwhile, Fidelity buttressed that Bitcoin’s potential as a store of value places it on a superior caliber than other cryptocurrencies. While others, like its closest competitor, Ethereum, have put in strong performances, none has done so on the same level and with the same conviction as the native token of the first fully decentralized electronic payment system.

There Is Only One Bitcoin

Furthermore, the asset manager highlighted Bitcoin’s unique strengths of scarcity, decentralization, and security. For instance, there will only be 21 million of the asset that will ever exist, a demonstration of its finite nature.

This limited cap, in addition to Bitcoin’s well-structured issuance rate, drives its value, establishing its role as an emerging store of value and aspiring monetary good. Meanwhile, with demand reaching insane levels, watchers have asserted that we will soon be out of Bitcoin to buy.

Bitcoin is also decentralized, spurred by its proof-of-work consensus mechanism. With no singular or central control, the network achieves consensus through a voting process, thereby eliminating the need for intermediaries.

Meanwhile, Bitcoin is becoming increasingly difficult to attack or compromise. The growing number of nodes, miners, and the asset’s price have made it practically and cost-wise impossible for a single individual to control up to 51% of computing power.

Bitcoin Hashrate and Price Rally Establishes Security
Bitcoin Hashrate and Price Rally Establish Security

Remarkably, this places Bitcoin on track to solve the blockchain trilemma, with its scalability drawdown being the only missing piece.

For one, the Bitcoin network ranks as one of the slowest in the sector, with its decentralized nature playing a significant role in this regard. It can process just three to seven transactions per second compared to new chains like Solana, which has a TPS of 4,000.

Essentially, Fidelity holds Bitcoin in high regard, projecting that its value will continue to rise in line with its growing utility and scarcity. While it did not predict the asset’s price trajectory, there are predictions that it would rally to $200,000 this year and $1.5 million in the next five years.

Publicly Listed UK Gold Mining Firm to Convert Its Gold Revenue to Bitcoin for Reserve

Sam Wisdom Raphael
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Publicly Listed UK Gold Mining Firm to Convert Its Gold Revenue to Bitcoin for Reserve

Bluebird, a UK-listed gold mining company, has announced plans to use the money it earns from gold to build Bitcoin reserves. 

The company disclosed this in a brief release on X. However, Jonathan Morley-Kirk, the company’s Non-executive Chairman, presented more details in a follow-up statement. 

Bluebird on X
Bluebird on X

Bluebird Eyeing a Bitcoin Strategy

Morley-Kirk explained that Bluebird, which runs gold projects across Asia, sees this as the right moment to rethink its approach.

Bluebird believes it makes sense to shift toward a strategy that includes both gold and Bitcoin. Morley-Kirk pointed out that gold has long served as a reliable store of value and remains an important asset for central banks and investors. 

However, he also stressed how Bitcoin’s role in the financial scene keeps growing, especially as more people look for ways to protect their money from inflation, rising debt, and global uncertainty. 

Bluebird sees Bitcoin not as a threat to gold but as a modern counterpart, and the company plans to convert future gold revenue into Bitcoin, treating it as digital gold.

Bitcoin Outperforms Gold

Notably, Bitcoin has outperformed gold over the past decade, with proponents such as Strategy’s Michael Saylor claiming that its volatility makes it better. Recently, Bitwise projected Bitcoin to grow 53.1% annually in the next decade, while it predicted gold to drop 3.6% within this period. 

Bluebird will not just buy Bitcoin occasionally. Specifically, it wants to hold it as part of its balance sheet, using it as a treasury reserve. The company believes this strategy, paired with low overhead costs, sets it apart from other UK-listed mining firms. 

To help lead the way, Bluebird is searching for a new CEO who understands digital assets and can help build this strategy from the ground up. 

Aidan Bishop, the Executive Director and Interim CEO, supports this. He said he believes Bitcoin will reshape financial markets and help Bluebird attract a new kind of investor. 

Multiple Firms Now Joining the Bitcoin Strategy Campaign 

This move puts Bluebird in line with a growing list of companies building Bitcoin into their financial playbooks. Just last month, DDC, an Asian food company, bought 21 Bitcoin and set a target of 500 BTC in six months and 5,000 BTC in three years. 

Just days back, SolarBank, a North American engineering firm, also adopted a Bitcoin treasury plan. While it hasn’t shared details yet, the company confirmed that it sees Bitcoin as a major part of its financial future.

These firms follow in the footsteps of others who jumped into Bitcoin in 2024. KULR Technology Group began buying Bitcoin in December and committed to putting up to 90% of its extra cash into it. By the end of that month, it had already bought 217.18 BTC worth about $21 million. 

Acurx Pharmaceuticals, Hoth Therapeutics, and LQR House also approved plans to buy Bitcoin, each starting with at least $1 million.

According to Bitcoin Treasuries, 225 entities now hold Bitcoin. Of those, 124 are public companies, which together own more than 816,000 BTC, worth over $85 billion. Private firms make up 34 of the holders. 

Altogether, these 225 entities control 3.4 million Bitcoin, accounting for more than 17% of the total coins in circulation. Strategy, Marathon Digital, Twenty One Capital, and Riot lead the pack as the biggest corporate holders.

Michael Saylor Says He’s More Bullish on $13M Bitcoin Price Forecast; Here’s Why

Lele Jima
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Michael Saylor Says He’s More Bullish on $13M Bitcoin Price Forecast; Here’s Why

Michael Saylor, the executive chairman of MicroStrategy (now Strategy), discloses that he is getting more bullish on his previous forecast that Bitcoin will hit $13 million by 2045. 

The Strategy chairman expressed this view during a recent CNBC Squawk Box interview, where he provided a bullish outlook for Bitcoin. During the interview, Saylor recounted the previous prediction he laid out for BTC at the Bitcoin Conference in Nashville. 

At the 2024 conference, Saylor predicted that Bitcoin would grow by 29% on average each year over the next 21 years. He suggested that factors such as Bitcoin education and rising institutional demand for the asset could propel BTC’s price to the $13 million target by 2045. 

Bullish on $13M Bitcoin Price Forecast 

While his previous forecast triggered mixed reactions at the time, Saylor has once again backed the prediction. The Bitcoin evangelist emphasized that he is more bullish on the prediction due to the positive market developments over the past six months. 

Regulatory Clarity for BTC 

He mentioned that the current U.S. administration now recognizes Bitcoin as a top digital commodity, providing regulatory clarity for the firstborn crypto. 

Banks Now Allowed to Hold Bitcoin 

Additionally, he noted that the banking regulator has authorized banks in the United States to hold Bitcoin. Recall that in April, the Federal Reserve withdrew 95% of its anti-crypto rules. 

These include the 2022 and 2023 supervisory letters, which required banks to notify the central bank before engaging in crypto-related activities. With the rules rescinded, banks can now engage freely in crypto activities without informing the Fed. 

Growing Institutional Adoption 

Furthermore, Saylor indicated that there is strong institutional adoption for Bitcoin. According to him, more than 100 public companies currently hold Bitcoin on their balance sheets, with new firms adopting the asset every week. 

He also highlighted the massive inflows into Bitcoin ETFs. As of press time, spot Bitcoin ETFs have accumulated $44.29 billion in net inflows and hold $122.98 billion in net assets.

Supply Squeeze 

According to Saylor, another factor making him more bullish on the $13 million Bitcoin price forecast is the asset’s supply squeeze. He opined that only about 450 Bitcoins are made available for sale daily. The Strategy chairman noted that Bitcoin treasury companies and Bitcoin ETF issuers quickly buy these 450 BTC. 

Based on these positive developments, Saylor said he is more bullish on the possibility of Bitcoin reaching the $13 million target by 2045, 20 years from now. Interestingly, he raised his expected average annual return for Bitcoin from 29% to 40%, which suggests that BTC could reach the $13 million target sooner.  

Hitting the $13 million target demands a surge of 12,328% from the current price of $104,596. 

TRIBLU Founder Says Elon Musk ‘Will Do Anything’ to Make XRP the Chosen One

Abdulkarim Abdulwahab
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TRIBLU Founder Says Elon Musk ‘Will Do Anything’ to Make XRP the Chosen One

Amid the escalating feud between Elon Musk and President Donald Trump, influential XRP community voices are speculating about what could happen next and how it might benefit XRP.

In a tweet, Joshua Dalton, founder of TRIBLU, argued that Elon Musk may adopt XRP as the cornerstone of X’s upcoming payment ecosystem, X Money. Dalton even claimed that Musk “will do anything” to position XRP as the chosen currency on the platform. 

He suggested this move could unfold as the Trump family’s crypto venture, World Liberty Financial, which has invested heavily in BTC, faces potential collapse.

The post directly tags Ripple, Musk, President Trump, and his sons Eric Trump and Donald Trump Jr., framing a dramatic narrative of crypto rivalry.

Trump vs Musk Fallout Reaches the Crypto Market

Notably, the Trump family has long supported Bitcoin while showing little interest in XRP. Until recently, Musk and Trump maintained a cordial relationship. However, that changed dramatically this week after Musk publicly criticized Trump’s spending bill in a June 4 post, warning of serious economic risks.

Trump fired back, threatening to revoke Musk’s government contracts and subsidies. In response, Tesla’s stock plummeted, erasing $150 billion in market value.

The crypto market followed suit. Bitcoin tumbled over 6% to a low of $100,400 before a modest recovery to $102,000 at press time. XRP also suffered losses, though Dalton and others believe this situation could present a long-term opportunity for XRP.

2025 06 06 072911
Trump Musk Feud

Could XRP Gain an Edge?

Meanwhile, Dalton’s claim that Musk might champion XRP at the expense of Bitcoin takes inspiration from historical development. Specifically, Musk has a history of criticizing Bitcoin for its energy use and vulnerability to centralized mining operations. This contributed to his decision to discontinue accepting BTC in exchange for Tesla’s electric cars in 2021.

In contrast, XRP is designed for efficient cross-border transactions and boasts faster, cheaper settlements. These characteristics could make it a viable choice for Musk’s vision of an “everything app.”

The XRP Ledger’s focus on efficient value transfer aligns with what X Money aims to offer when it launches later in 2025. While Musk has frequently promoted Dogecoin, many in the XRP community argue that XRP’s real-world utility gives it a stronger case for serious integration.

In October 2024, Elon Musk publicly mentioned XRP for the first time in a viral Crypto Twitter video. Asked about XRP’s potential role in the global financial system amid SEC scrutiny, Musk said cryptocurrencies, including XRP, can counter centralized control and promote individual freedom. Meanwhile, he clarified his remarks were “not an endorsement or lack of endorsement” of XRP. 

Overall, as the Musk–Trump feud intensifies, some believe XRP could emerge with an unexpected advantage.

Binance Coin Shows Signs of Recovery: Can It Push to $700?

Albert Brown
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Binance Coin Shows Signs of Recovery: Can It Push to $700?

Binance Coin (BNB) shows a brief recovery after a massive market crash, trading above the 100-day EMA at $644. Will this momentum push BNB towards $700 or result in a deeper correction?

Recovering after the massive crash in the crypto market, Binance Coin is up nearly 2% on Friday, trading at a market price of $643. The entire recovery is based on the 100-day EMA, and Binance coin is yet to recover the 4.42% drop from Thursday. Will this short-term recovery reinstate the bullish trend in motion? 

BNB Coin Price Analysis

In the daily chart, the BNB coin price reveals a bullish struggle to reach the $700 psychological level. This has resulted in a bearish turn, accounting for an over 1% drop last week, followed by a 2.5% decline so far this week. 

BNB Coin price chart
BNB Coin price chart

However, the intraday recovery in Binance Coin of over 1.5% on Friday helped sustain the altcoin above the 100-day EMA at $633. Currently, the altcoin trades at $644 and exceeds the 50-day EMA at $642. 

With the resurgence of bullish momentum, the RSI line experiences an uptick despite briefly falling below the halfway level. This suggests the possibility of a fresh recovery if the RSI line resurfaces above the halfway level. 

Meanwhile, the positive alignment of the 50-, 100-, and 200-day EMA lines signals a bullish trend in motion. As per the price action analysis, a daily closing above the 50-day EMA at $642 could increase the likelihood of Binance Coin re-challenging the $700 psychological mark. 

Furthermore, the breakout rally of a previous falling channel pattern remains intact as Binance Coin avoids a steeper correction. 

However, a pullback beneath the 200-day EMA at $624 could result in a steeper correction to the $600 psychological level. This will reinstate a bearish trend, potentially extending the downfall to the $554 support level.

BNB derivatives

Despite the intraday recovery, the BNB coin faces a significant backlash in the derivatives market as a bearish sentiment surge. The open interest is down by 3.61% to $757.70 million, reflecting a decline in traders’ interest. 

BNB Derivatives
BNB Derivatives

Additionally, the liquidations over the past 24 hours have surged to $2.18 million, reflecting the massive wipeout of bullish players. With the wipeout, the long-slash-short ratio has dropped to 0.7361, indicating a significant increase in short positions. 

This is further supported by the massive drop in over-weighted funding rate to 0.0178%, suggesting the bearish players are willing to pay a premium to hold onto their selling positions.

Analyst Says Bitcoin Growth Ahead, Identifies Catalyst for a Rally to $180,000 This Year

Elendu Benedict
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Analyst Says Bitcoin Growth Ahead, Identifies Catalyst for a Rally to $180,000 This Year

A recent analytical commentary has identified a recurring pattern in Bitcoin price action, setting the precedent for further upside to unprecedented prices.

Bitcoin’s wick dropped to $100,000 yesterday, shaking off nearly $1 billion worth of leveraged positions in the past 24 hours. While many panicked, an earlier analysis had forewarned of the possible correction.

Meanwhile, Bitcoin has rebounded from the dip, reclaiming $103,000 at the time of writing. Interestingly, according to a recent analysis from crypto researcher Klarch, it is still up only for Bitcoin, as he discloses its target for the bull cycle.

Bitcoin Cycles Are Identical

In the Thursday post, Klarch identified a recurring pattern of price appreciation following the Bitcoin halving. The pre-programmed, fully automated halving event has historically been accompanied by price upside for the crypto leader, and data indicates the asset is still in its early stages of this bullish phase.

For perspective, the market watcher noted that Bitcoin rallied 280% a year after the 2016 halving event and posted an even higher surge of 550% in 367 days after the 2020 halving. While Bitcoin has fallen short of these numbers with just a 70% growth 416 days post-halving, Klarch insisted that there is growth ahead.

Bitcoin’s Halving Performance / Klarch

Furthermore, he clarified that Bitcoin’s multiple all-time highs this year do not signal the top. The asset reached a new all-time high of $109,350 on Inauguration Day in January and again at $112,000 on May 22, and the analyst believes it is the second of many for this cycle, rather than a sign of the top.

Analyst Says $180,000 is Bitcoin’s Target.

Meanwhile, Klarch highlighted key factors suggesting that Bitcoin would rally to new highs, specifically up to 74% from the current price to $180,000. One of these factors is the continuous influx of liquidity into the crypto market.

Bitcoin remains an asset in high demand, with institutional traction further adding to the catalyst’s impact. Incessant purchases from Strategy and other firms, as well as from US Bitcoin spot ETFs, have made the leading cryptocurrency relatively scarce.

As a result, the analysis suggests Bitcoin would rally on this propellant, potentially targeting $180,000. Furthermore, he noted that considering the length of historical cycles, there is still more time for Bitcoin’s bull season.

First, he highlighted that Bitcoin’s up season typically lasts between 12 months and 18 months after the halving event. More interesting is that the asset is still in its growth stage.

An accompanying chart illustrates that Bitcoin undergoes three distinct phases in each cycle: accumulation, growth, bubble, and crash stages. As the name implies, the bubble phase is characterized by massive price upticks that quickly burst, often followed by a market crash.

Bitcoin Cycle Phases / Klarck

However, Bitcoin is currently in the growth stage and is on the cusp of entering the euphoria phase. As a result, the rally to $180,000, a target he shares with asset manager VanEck, remains a possibility this bull cycle.

Senator Lummis Has Highlighted a Pathway to Build America’s Bitcoin Reserve

Albert Brown
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Senator Lummis Has Highlighted a Pathway to Build America’s Bitcoin Reserve

In a recent Bloomberg interview on June 3, Senator Cynthia Lummis highlighted a potential pathway for the United States to build a strategic Bitcoin reserve. 

Lummis emphasized the potential role of Bitcoin in reducing national debt, proposing a long-term strategy to secure one million Bitcoins, roughly 5% of the total Bitcoin supply. 

Her vision revolves around using existing resources, specifically those held by the U.S. Marshals Service, to establish the reserve.

Using U.S. Marshals Service Funds to Start the Reserve

Senator Lummis outlined that the U.S. Marshals Service holds asset forfeiture funds, some of which are in the form of digital assets. She proposed that these assets could serve as the foundation for a strategic Bitcoin reserve in the first year. 

Lummis pointed out that the government already has the authority to take action without needing new legislation. However, she noted that a legislative framework would be necessary in the future to ensure the Bitcoin reserve remains secure from future political changes.

Meanwhile, Lummis made it clear that the reserve should be exclusively focused on Bitcoin due to its unique characteristics. She explained that Bitcoin is based on proof-of-work mining, distinguishing it from other digital assets. This makes it a more stable and trustworthy option for a national reserve compared to other cryptocurrencies.

A Long-Term Strategy to Address U.S. Debt

Lummis’ plan focuses on securing 1 million Bitcoin over the next two decades, with the aim of holding it for 20 years. She mentioned that the value of Bitcoin would likely increase significantly in the coming years, making it a valuable asset for the country. 

According to her model, a Bitcoin reserve could potentially reduce half of the U.S. national debt. This strategy would align with the country’s long-term financial goals, given Bitcoin’s expected appreciation over time.

In her remarks, Lummis also noted that high-ranking U.S. military officials, especially those stationed in Southeast Asia, support the idea of a Bitcoin reserve. She suggested that in the ongoing economic competition with China, a strategic reserve of Bitcoin would be just as important as the nation’s existing reserves of oil and other critical resources.

Advocating for Broader Acceptance of Digital Assets

Lummis further discussed the broader issue of digital asset adoption, praising President Trump for his foresight in investing in Bitcoin. 

She argued that as the digital economy grows, more Americans should recognize the value of early investments in crypto.

Sui Hovers at $3 Amid Rising Market Volatility: Will $2.71 Be Next?

Albert Brown
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Sui Hovers at $3 Amid Rising Market Volatility: Will $2.71 Be Next?

Sui price continues its downtrend after failing to break resistance at $4.20, with a potential drop to $2.71 as market volatility intensifies.

As Bitcoin tumbles below the $103,000 mark while momentarily reaching the $100,000 level, altcoins are in a free fall. Sui momentarily breached below the $3 psychological level in a bearish pattern. Will the increasing market volatility drop the SUI price to $2.71? 

SUI Price Analysis

On the 4-hour chart, SUI  continues a bearish trend after failing in its third attempt to overcome the $4.20 resistance.

SUI Price Chart
SUI Price Chart

Since then, the SUI price has decreased by more than 25% over the past two weeks. The declining trend forms a falling channel pattern and has resulted in a death cross between the 50 and 200-period EMAs. 

With the recent downfall, the 100 and 200 EMAs have also registered a negative crossover. During the pullback, the SUI price fell to $2.88 last night. However, the intraday recovery has pushed the current market price to $3.02, reclaiming the psychological level.

Additionally, it marks a positive comeback from the local support trend line. As the SUI price attempts to bounce back within the falling channel, the 4-hour RSI line shoots off from the oversold region, signaling a minor burst in bullish momentum, while the overall sentiment remains bearish. 

As the broader market remains volatile, SUI could test the immediate support level at the 50% Fibonacci level at $2.71, as it remains the path of least resistance. However, a closing above the $3.00 resistance level could challenge the overhead resistance trend line near the $3.20 level.

Bearish Sentiment Surge in Derivatives Market

As the bearish trend in SUI intensifies, the derivatives data from Coinglass reveals that more than $11 million worth of bullish positions were wiped out in the past 24 hours. 

The short liquidations remain at $693K, reflecting a massive exodus of SUI bulls. This has resulted in a steep pullback of 2.4% in the open interest down to $1.39 billion. 

SUI Derivatives
SUI Derivatives

Additionally, the increased long liquidations have dropped the long/short ratio to 0.8843 in the past 24 hours. Hence, the derivatives data reflects a complete bearish dominance, anticipating a steep correction in the altcoin.

Tron Risks Drop to $0.2629 as Bearish Pressure Mounts

Albert Brown
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Tron Risks Drop to $0.2629 as Bearish Pressure Mounts

Tron faces mounting bearish pressure, with a potential drop to the 50-day EMA as market sentiment shifts.

As the crypto market pulls back on Thursday, the bearish pressure over altcoins increases. Amid such pressure, Tron is down 1.65% on Friday, risking a potential drop to the 50-day EMA at $0.2629.

Tron Price Analysis

On the daily chart, the TRX price fails to sustain a bullish trend, despite a 2.57% surge on Thursday. Undermining the three consecutive bullish candles, TRX takes a bearish turn around with a near 2% intraday drop.

Tron Price Chart
Tron Price Chart

At present, TRX trades at a market price of $0.2775, retracing towards a crucial support trend line. Furthermore, it marks a bullish failure to extend the recent consolidation range breakout due to a broader market correction.

The daily RSI line maintains a declining trend, while TRX fluctuates near the $0.28 resistance level. This highlights a hidden bearish divergence in comparison to the price trend, signaling a potential downfall.

As per the price action analysis, the immediate support remains the 50-day EMA at $0.2628, near the upper boundary of the consolidation range. Notably, the 50-, 100-, and 200-day EMAs maintain a bullish alignment, increasing the number of dynamic supports to prolong the longer-term bullish trend.

However, a potential closing above the $0.2806 mark could revert TRX towards the 50% Fibonacci level at $0.30.

Derivatives Market Turns Bearish on Tron

Amid declining TRX prices, sentiment in the derivatives market shifts in favor of Tron. The open interest is down 1.28%, reaching $264 million, indicating a decline in interest among derivative traders. 

This aligns with the increased liquidations over the past 24 hours, with long liquidations rising above $908,000, while short liquidations spike beyond $607,000. With the larger buyout of bullish traders, the OI-weighted funding rate flips to a negative value of -0.0005%. 

TRX Derivatives
TRX Derivatives

Additionally, the long-to-short ratio indicates a sudden increase in short positions, resulting in a ratio of 0.8793. Hence, the derivatives traders anticipate a significant crash in TRX as the broader market turns volatile.

Here’s Why Bitcoin and Ethereum Can’t Compete with XRP in Global Payments

Lele Jima
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Here’s Why Bitcoin and Ethereum Can’t Compete with XRP in Global Payments

A prominent crypto sleuth has provided technical reasons why Bitcoin and Ethereum cannot compete with XRP in the global payments market. 

It is no longer news that XRP has a reputation in cross-border payments, with several financial entities adopting the coin for this purpose. 

In a recent X post, top crypto sleuth SMQKE highlighted this incredible feat, arguing that Bitcoin and Ethereum cannot compete with XRP in global payments. 

Bitcoin and Ethereum are Ill-Suited for Global Payments 

According to SMQKE, the developers of Bitcoin and Ethereum did not design the coins to meet today’s payment demands, asserting that they lack scalability. The expert defined ‘scalability’ as the ability of a system to handle multiple transactions simultaneously, quickly, and at a lower cost. 

In their view, global banks require systems that offer scalability as they process millions of payments daily. Notably, SMQKE suggested that Bitcoin and Ethereum process around 20 transactions per second, which limits their ability to meet the demands of global finance. 

Since both networks are poorly scalable, users sometimes pay high transaction fees, with confirmation times stretching from minutes to hours. 

SMQKE emphasized that Bitcoin and Ethereum are incompatible with modern payment infrastructure due to their high transaction fees and long confirmation times. 

“That is why banks and institutions continue to exclude BTC and ETH from high-volume payment systems due to regulations,” SMQKE remarked. 

XRP Satisfies Modern Payment Demands

However, the expert suggested that XRP was explicitly built for speed, scalability, and utility. For context, XRP’s underlying technology, XRP Ledger (XRPL), handles up to 1,500 transactions per second, with each costing less than a cent ($0.01). 

Based on these features, SMQKE emphasized that XRP was designed for real-time payments and high-volume financial settlements. 

Conclusively, the expert argued that while XRP was designed for modern day payments, Bitcoin and Ethereum were not. They highlighted XRP’s core design as the driving force behind Ripple’s integration into the real-world banking system. 

XRP Recognized as Utility Token Under MiCA 

Meanwhile, SMQKE’s recent commentary serves as a follow-up comment to their initial post about Bitcoin and Ethereum’s exclusion from the MiCA regulatory framework. 

According to Mary-Elizabeth McMunn of Ireland’s Central Bank, Bitcoin and Ethereum fall outside the regulatory purview of MiCA as both assets have no identifiable issuers. 

However, SMQKE indicated that XRP would be regulated as a utility token under the MiCA regulation. The expert provided documents confirming XRP’s utility, demonstrating that it meets the criteria via its use in cross-border payments and speculative trading. 

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