#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Trump Media Company has revealed plans to launch a $2.5 billion Bitcoin strategy, contributing to the rise in Bitcoin's price to $110,000. Amid this development, rumors began about the possibility of Trump choosing Ripple (XRP) as one of the alternative currencies he would use to diversify his Bitcoin strategy. If that happens, how much could the price of Ripple rise?
Announcement
Can Trump add XRP to his Bitcoin strategy worth $2.5 billion?
Trump Media may add XRP to its Bitcoin strategy worth $2.5 billion for multiple reasons. XRP is the largest American-made altcoin, and its CEO, Brad Garlinghouse, played a pivotal role in Trump's election campaign last year. Based on this, the company may choose XRP to diversify its investment portfolio.
XRP was part of a group
Institutional interest in XRP is also increasing after VivoPower revealed plans to raise $121 million to create an XRP-focused investment fund to finance its purchases of Ripple tokens. If more companies launch XRP-focused investment funds, this will increase the likelihood of Trump Media purchasing XRP.
According to Coingape, there is a possibility that we will see an XRP reserve in 2025 if the market capitalization of cryptocurrencies exceeds $500 billion.
The high institutional demand for Ripple is clearly reflected in the significant increase in daily trading volumes of XRP futures contracts on the Chicago Mercantile Exchange. XRP futures contracts set a new record with 250 contracts traded on May 28. Considering that the standard contract contains 50,000 tokens, the daily trading volume reached 12.5 million XRP, worth over 25 million US dollars at the current XRP price.