Jason Calacanis on XRP and Bitcoin

Prominent American angel investor Jason Calacanis, known for his successful bet on Uber, believes that the Ripple-linked XRP cryptocurrency is controlled by “a few individuals.”

Earlier, Calacanis argued that XRP was a “centralized controlled security,” contrasting it with Bitcoin. He predicted “chaos” if the SEC approved XRP-based ETF products, expressing skepticism about the ruling from July 2023 that stated sales of XRP tokens on exchanges were not investment contracts. He previously noted that the token was “obviously a security,” suggesting that it would have been simple for Ripple to adhere to regulations like others in the industry.

Calacanis referred to XRP as a “disaster” poised to “clearly go to zero” following the SEC lawsuit. He clarified that he does not own any XRP or Solana (SOL) tokens.

Will Bitcoin Be Replaced?

Despite being a long-time Bitcoin investor, Calacanis has questioned the future of the leading cryptocurrency. He stated, “All technology gets replaced over time…and Bitcoin will be no different.” However, some Bitcoin proponents disagree, likening Bitcoin’s longevity to that of USB, Internet Protocol, or Simple Mail Transfer Protocol, which have endured after establishing dominance.