XRP Is a ‘Fantastic Way to Move Money’, Says Michael Arrington, Partner at XRP-Denominated Cryptoasset Hedge Fund

July 24, 2018

 

Last week (17-18 July 2018), at the Beyond Blocks Summit in Seoul, South Korea, Ran Neu-Ner, CNBC's "Crypto Trader", did an interview with Michael Arrington, a partner at XRP-denominated cryptoasset hedge fund "Arrington XRP Capital", during which they talked about XRP.

Arrington, who announced his hedge fund on 28 November 2017 at Consensus: Invest 2017 conference in New York, said at the time that his crypto-focused fund would be entirely denominated in XRP.  In the blog post about the announcement, Arrington explained what this means: "Investors contribute XRP to the fund, not dollars or other fiat currency.""All distributions, fees, etc. will also generally be paid in XRP (with some exceptions for LPs desiring different currency distributions)."XRP is the 3rd largest cryptocurrency by market cap size. It is down 2.90% over the past 24 hours and is currently trading at $0.443894. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as CEX.io and Changelly.

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