The winner of CME Group’s annual trading competition in 2016 says he’s all-in on XRP.
In a new viral tweet, Eric Choe told his 142,000 followers he’s decided to go with XRP to place a big bet on early retirement.
The tweet comes after a chorus of fear, uncertainty and doubt on whether Facebook’s crypto stablecoin, codenamed Libra, will disrupt Ripple’s business model and impact the price of XRP.
Facebook has not officially revealed exactly how it will utilize its custom crypto asset; however, early reports indicate it could be used to give companies and individuals a low or no-cost way to move money around the world. Ripple has been working to achieve similar goals for years. The company now has more than 200 customers on RippleNet, its network of banks and financial institutions that use Ripple’s suite of cross-border payment products to move money around the globe.
On June 18th, Facebook is expected to release a whitepaper on its new coin, according to TechCrunch.
Bitcoin entrepreneur Charlie Shrem and Wall Street veteran Max Keiser say they believe Facebook’s global cryptocurrency will have a big impact on San Francisco-based Ripple and XRP, the second biggest cryptocurrency by market cap.
As for the stop loss on his giant XRP gamble, Choe says he will likely place a sell order below 28 cents in case his plan backfires.