According to WelsonTrader in a tweet on August 23, 2019, XRP, the third-largest cryptocurrency by market cap has performed better than any crypto asset and stock, in the past ten years. The cryptocurrency analyst is also betting $100,000 that XRP will outperform Bitcoin by the end of 2020.
Welson believes that XRP has been the best performing cryptocurrency in the past decade. The crypto asset has even performed better than stocks. In the same vein, XRP has a better chance of being adopted globally than other cryptocurrencies including Bitcoin, he said.
While the crypto community was still trying to wrap their heads around the forecast, Welson took it one step further to place a wager. According to the blockchain enthusiast, he is willing to forfeit $100,000 to any trader if XRP does not outperform Bitcoin again by 2020’s end.
XRP’s ‘Centralization’ Makes it Attractive to Banks
WelsonTrader also revealed why he is so confident about XRP taking the global digital currency title. In his opinion, Banks have controlled and manipulated the financial markets for years. These financial institutions know that cryptocurrency is the future. And with XRP being the only centralized digital asset, it looks promising to Banks, and as such, they will utilize XRP.
By no means am I a XRP maximalist, I’m just saying what will happen! – Banks are in control and have been for years, manipulating market caps. – Banks know crypto is here to stay, and with XRP being the only centralized coin, it’s clear they will be utilizing it!
“Banks are used by mostly everyone in the world. Bitcoin is a complex system which was never meant to replace them. Once XRP is listed on nasdaq, and other exchanges, the hype alone will send it to a higher market cap than Bitcoin.”
Crypto Community is Yet to Take the $100,000 Bet
On the other hand, no one has taken Welson Trader’s bet, and their reluctance may be attributed to the uncertainties they may have about Bitcoin. Some users called on Anthony Pompliano, a Bitcoin bull and Managing Partner at Morgan Creek Capital Management, to take up the bet. However, Pompliano was nowhere to be found given that no comments were made by him, as at press time.
Pompliano may have been absent, but other Bitcoin bulls were present to defend Bitcoin, the top cryptocurrency. According to these bulls, the wager’s price is easy money waiting to be taken. A user, for instance, remarked that Bitcoin has surged significantly from its $0.003 and $2 price in 2009 and 2012, respectively. However, XRP, which was priced around $0.006 in 2012, has only recorded minor gains since then.
Nonetheless, Welson’s prediction can be compared to Bitcoin proponent, John McAffee’s forecast. McAfee is betting big on Bitcoin and even stated on November 29, 2017, that Bitcoin will hit $1 million by 2020.