Transcript
Dan Tapiero (0:00)
But one very impressive thing about XRP is just how long it's lasted, how many times it's come under attack. And I think that ripple, you know, it's this Lindy effect. The longer it. It seems to exist, the more sort of strength it gathers, the greater the network effect.
Host (0:28)
Dan, welcome to Markets Daily.
Dan Tapiero (0:31)
My pleasure to be here.
Host (0:32)
All right, everyone is Talking about these XRP ETFs, Pro shares debuting three. They are.
Dan Tapiero (0:38)
Everybody's talking about them.
Host (0:39)
I mean, everyone on that world, everyone on ED is everyone.
Dan Tapiero (0:44)
I think there are a whole bunch of people that are definitely not talking about them. But. But you and I are going to be talking about them.
Host (0:50)
We really are.
Dan Tapiero (0:51)
So.
Host (0:51)
Okay, why don't you tell me about the people who are not talking about them. Who is not excited on crypto?
Dan Tapiero (0:57)
Twitter, of course. I mean, any bitcoin, so certainly bitcoin Max. Any bitcoiner either. Solana focused person. I mean, as you know, I mean, the space can, you know, carve itself off into its little groups. And the XRP army has been a thing for quite a few years. And I think there are quite a few people out there, or not part of that army who sort of don't believe in, you know, xrp mostly because it's centralized. And I think people have problems with the way that it was distributed over the years. But I would say, you know, the one very impressive thing about XRP is just how long it's lasted, how, how many times it's come under attack. Do you remember was it last year or two years ago, Gensler banned. He basically attacked them and then they got taken off all of the exchanges.
Host (1:53)
I think I vaguely remember this.
Dan Tapiero (1:56)
Yeah, they were, they were actually pulled off. XRP was pulled off the exchanges. I think it stayed on Kraken, it's one of my portfolio companies, and maybe Uphold as well. I don't. I can't remember if it was one or two, but. And then they bounced back. And I think that ripple, you know, is this Lindy effect. The longer it. It seems to exist, the more sort of strength it gathers, the greater the network effect is. And so I think it's pretty impressive. I mean, the first trades I did in cryptocurrency in 2012 were in Bitcoin and in Ripple at the time, through Uphold. At the time it was called bit reserve. So I understand people have different opinions about the fact that it's not decentralized. And I think people also question whether how much is it really used in payments. And I would argue, and I think and again, I haven't done enough work on this and I am by no means a big XRP guy, but I do respect it for its ability to survive. And I think what it's turned itself into, the company Ripple has turned itself into, in a way, a holding company, a conglomerate of assets within the digital asset ecosystem. So I think there's value there and I think there probably are quite a few people anticipating the XRP ETF lasting also because it's made in America now. Right. That's another thing we know with this administration, if it's, it's made in America. So I think, and you have to, you know, take your hat off to Brad Garlinghouse for having gotten involved with Trump and still very involved. And I think has, has done a lot of hard work for the space itself, doing battle with the previous SEC administration. He's been a pretty strong advocate for the space itself overall.