BlackRock Will Not Make a Switch to XRP from Bitcoin
BlackRock’s rumored strategic change toward digital currencies generates interest, but deeper inspection shows its lack of reliability.
BlackRock is the biggest asset manager in the world, with an amazing $9 trillion in assets under management, and there was a report on the X social media platform that the company was considering changing its digital currency strategy from Bitcoin to XRP.
While it’s true that BlackRock has dabbled with cryptocurrencies, there’s no hard evidence to suggest that they plan to switch their focus from Bitcoin to XRP.
BlackRock CEO Larry Fink has also come around to the idea that the cryptocurrency business has the ability to “revolutionize finance,” a radical change of heart from his earlier contempt.
This rumor seems to have been started by a tweet from an unreliable news source with the handle “WallStreetBulls.”
Reports suggested in the past that BlackRock was abandoning Bitcoin in favor of XRP. However, the article did not include any citations to back up this assertion.
Notable members of the XRP community have blindly accepted this story, fanning the fires of suspicion. There are cautious people in the crypto industry, like Mason Versluis, who have provided a sound piece of advice to potential investors: “Believe nothing until you see solid evidence.”