VivoPower International invests $121M in XRP, highlighting institutional interest and market reactions.
- VivoPower International Plc adopts XRP-focused digital asset strategy.
- $121 million raised with significant institutional backing.
- Market sees potential shift in XRP’s institutional narrative.
VivoPower’s $121M XRP Initiative Led by Saudi Prince
VivoPower International Plc announces a significant investment in XRP, raising $121 million, marking it as the first Nasdaq-listed firm to adopt this digital asset strategy. This initiative by VivoPower is crucial in demonstrating the growing institutional interest in XRP, potentially altering its market perception and enticing further investments.
His Royal Highness Prince Abdulaziz bin Turki Abdulaziz Al Saud, Investor, VivoPower International PLC, stated:
We have been investors in the digital asset sector for a decade and have been long-term holders of XRP. After reviewing a number of listed vehicles seeking to embrace a digital asset treasury model, we selected VivoPower given its strategic focus on XRP and its objective to contribute to building out of the XRPL ecosystem. source
XRP Gets Institutional Boost Similar to Bitcoin
The decision boosts institutional engagement with XRP, akin to MicroStrategy’s effect on Bitcoin. VivoPower’s move is expected to drive XRP’s narrative among large investors significantly. Experts foresee enhanced financial prospects for XRP. Several institutional managers are seeking regulatory approval for spot XRP ETFs, indicating rising demand for the asset.
Strategic Moves Echo MicroStrategy’s Bitcoin Approach
VivoPower’s approach mirrors the strategic treasury moves made by MicroStrategy for Bitcoin, setting a precedent for XRP as a viable institutional asset. Industry analysts predict the move could lead to increased liquidity in the XRP market, potentially paving the way for broader institutional adoption and revised portfolio strategies.
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