Ripple(XRP) Criticized Bitcoin(BTC) for being too centralized, ironic?

Ripple’s CEO came out and criticized Bitcoin for being “owned by China” and therefore being too centralized. Now, 40% of Bitcoin is owned by the top 1000 holders of Bitcoin, which is less than ideal, but it is still a lot more decentralized than Ripple because Ripple Labs(which is different from the actual XRP coin) still controls 60% or more of the total supply of XRP in frozen escrow contracts. Of the major cryptocurrencies, Ripple is the most centralized one and I believe it was meant to be that way since it is a facilitator in Banking financial transactions. I think Ripple is an excellent long-term investment choice and should be part of your portfolio in crypto should be in ripple(I am not a financial adviser and this is not professional financial advice), but I think this argument of Bitcoin being too much owned by China coming from Ripple is hypocrisy and irony at its finest.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: