$100 Million Arrington XRP Capital Only Holds ‘3-4%’ XRP

Voyager
Voyager

Arrington XRP Capital, an XRP-denominated crypto hedge fund led by prominent tech figure Michael Arrington, recently shared that XRP only makes up 3-4% of its $100 million portfolio.

In a recent interview with CNBC, Arrington provided insight into the current holdings of his fund, which invests in everything from equity financing rounds to ICOs.

We hold a lot of [BTC] ‚Äď we hold more [BTC] than anything else, we hold a lot of Ether, we hold a lot of U.S. dollars, occasionally we hold Tether overnight.

While it’s unclear exactly how much BTC Arrington owns, he noted that the firm holds a “few million dollars worth” of XRP.

Arrington went on to discuss the current tribalism that plagues crypto, citing the fact that most investors have banded together to declare XRP a centralized tool for corporate entities. However, he sees XRP as a stable alternative to the many other volatile digital currencies, making it the ideal denominator for a hedge fund.

We denominate our fund in XRP because it’s a fantastic way to move money cross-border, very quickly, at almost zero cost.

Arrington is one of the more outspoken crypto bulls, stating back in November of 2017 that he’s jumped into the markets with both feet. He currently thinks a $25,000 price target is not out of the question for BTC before the end of the year.

XRP is currently ranked 3rd in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: BITCOIN: Mike Novogratz -We’ve seen the bottom $10k next then $25k!
Interesting: Ripple Releases Q2 XRP Market Report

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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