Yoshitaka Kitao, the CEO of Strategic Business Innovator Group (SBI), a leading financial service firm, has made some notable statements about Bitcoin and #Ripple (XRP). The CEO makes clear that Bitcoin is not inherently valuable as an asset. On the other hand, he seems to be very welcoming of Ripple #XRP , which he believes will thrive in the long term.
He explains that there has been significant growth in the use of international remittances using DLT (distributed ledger technology). This also includes Ripple’s virtual currency, which is gaining widespread adoption.
A large number of major fund transfer companies have also tapped into the technology and integrated it. In addition to this, the number of companies using RippleNet has also skyrocketed in recent times. He stated:
Major fund transfer companies have also begun to introduce it, and the use of “xRapid” using $XRP is becoming more widespread, and the number of companies participating in RippleNet is increasing significantly. Therefore, in that sense, I think that Ripple’s technology will gradually be used in the international remittance field, as well as “XRP”. Virtual currency is difficult without “real demand”, but I believe that solid “real demand” will be born in the future.
Yoshitaka Kitao has also spoken on Bitcoin and its performance, saying that the asset dropped by 80% because its fundamental value is zero. Pointing to Bitcoin’s performance over the years, he highlighted the asset’s inability to regain momentum after underperforming for a long period of time.
