Just a few short months ago, XRP’s market cap meant that its position in the top three cryptocurrencies was secure. Unfortunately, a confluence of factors has plunged the altcoin’s standing into peril.
In a filing with the U.S. Securities and Exchange Commission, the electric vehicle manufacturer also confirmed that it plans to accept BTC as a payment method soon. However, it’s unclear whether or not such payments would be converted into cash immediately afterwards.
Bitcoin saw mixed progress on February 4 as a push towards $40,000 combined with yet more controversy over Elon Musk. In the event, growth stalled as the world’s richest man returned to Twitter to boost the fortunes of Dogecoin—and remove “#Bitcoin” from his biography.
Scaramucci is the latest traditional finance heavyweight to join the ranks of open Bitcoin proponents. As Modern Consensus reported in mid-December, the participation of institutional investors and big-name investors is the main reason why many believe this Bitcoin bull run to be different from the previous ones.
