NewsCan XRP Surpass Bitcoin Soon? Former Ripple Executive Says ‘Yes’
Anjali Belgaumkar1 Nov 20242 min read
In a recent episode of the Mr. M podcast, former Ripple executive Matt Hamilton expressed his belief that XRP is on track to surpass Bitcoin and become the leading cryptocurrency. Hamilton highlighted that XRP previously held the top spot in 2018 when its market cap exceeded Bitcoin’s and dwarfed Ethereum’s.
Advantages of XRP Over Bitcoin
During the discussion with Bitcoin enthusiast Davinci Jeremie, Hamilton argued that XRP offers several advantages over Bitcoin, primarily its utility. He said that while Bitcoin is often seen as “digital gold,” its slow transaction speeds and outdated technology hinder its use for everyday transactions. In contrast, XRP can process transactions in seconds and handle a high volume without performance issues, making it better suited for scalability.
Decentralization and Institutional Influence
Hamilton acknowledged Bitcoin’s decentralized nature but argued that it is now influenced by major financial institutions, contradicting its original mission to disrupt traditional banking. He pointed out that with increasing transaction fees and reduced mining rewards, Bitcoin may alienate smaller users.
While Jeremie defended Bitcoin’s fixed supply and resistance to inflation, Hamilton stressed XRP’s ability to function as a bridge currency for central bank digital currencies (CBDCs). He believes XRP’s infrastructure makes it more practical for everyday use compared to Bitcoin.
Growing Institutional Interest in XRP
Additionally, Ripple has recently launched a guide aimed at the rapidly growing $20 trillion custody market, targeting institutional adoption. The guide helps banks establish great custody solutions for digital assets, reflecting Ripple’s commitment to expanding its influence in the financial landscape.
With Ripple’s customer growth in custody services surging over 250% year-over-year, Hamilton is optimistic about XRP’s future as a major player in the cryptocurrency market. As institutional interest grows, many believe that XRP’s utility will drive its rise, potentially surpassing both Bitcoin and Ethereum in the coming years.
