Surprising Reason Why This Crypto Analyst Prefers Ripples XRP Over Gold As Investment
During periods of economic uncertainty, investors often seek safe assets with handsome returns to offset losses. Gold, on account of boasting a long track record to rely on, is regarded as a safe haven asset. This means that the yellow metal is expected to continue gaining value even during economic downturns. Nevertheless, a popular crypto analyst-cum-investor suggests he would unambiguously wager on XRP rather than gold.
Is XRP A Better Investment Than Gold?
In a recent post on X, a crypto expert going by the online moniker Common Sense Crypto shared his view on a variety of financial assets, including, the United States dollar, crypto, and precious metals. He noted that he would rather have Bitcoin (BTC) in his portfolio than a US dollar stash in the bank.
Common Sense Crypto, however, revealed that he would prefer investing in gold rather than BTC. However, he did not give a specific reason for his preference for gold over the premier cryptocurrency, despite Wall Street titans increasingly viewing BTC as digital gold. Furthermore, Bitcoin has outperformed gold over the past decade.
The crypto pundit stressed he is fond of gold and silver but suggested that Ripples XRP will ultimately be worth more in the coming years. This is based on the tokens potential to facilitate the real movement of world assets, including gold, via tokenization. Notably, Ripple has already made serious moves to bring tokenized real-world assets (RWA) onto the XRP Ledger.
Ripples Master Plan: Real World Assets On XRPL
Ripple is already setting foot in the world of tokenization through its partner firms. In June, for example, the cross-border payments firm strengthened its existing partnership with UK exchange Archax to bring hundreds of millions of dollars worth of tokenized real-world assets onto the XRPL in the coming year. Prior to this move, Archax CEO Graham Rodford had forecasted that XRPL would comfortably process roughly $50 trillion in tokenization in the foreseeable future.
More recently, Ripple announced that OpenEden, a tokenization platform, had launched tokenized US Treasury bills (T-bills) on the XRP Ledger. As ZyCrypto reported, Ripple invested $10 million in OpenEdens tokenized T-bills initiative, marking a substantial TradFi advancement on the XRPL.
The price of XRP stood at $0.5922 at press time after gaining more than 5.8% over a seven-day period, according to CoinGecko.
Text source: ZyCrypto
