Rosie Rios Believes Bitcoin and Ethereum are Speculative, Promote XRP Rather

Kavya  |  Sep 28, 2021

The 43rd Treasurer of the United States, Rosie Rios recently promote XRP. In meanwhile, she indicates that Bitcoin and Ethereum are just speculative investments. 

Former Treasurer Of The Unites States, Rosie Rios Promote XRP

Rios' reference to "China's latest action" refers to the country's recent announcement that digital asset trading is forbidden within its borders.

This was the latest in a long line of disinformation from the Chinese authorities over the purported use of cryptocurrency for money laundering.

The remark, like many others before it caused a temporary dip in cryptocurrency prices.

Rios has long been an XRP fan.

She joined Ripple's board of directors in May, calling it "one of the best examples of how to use cryptocurrencies in a large and legitimate capacity to facilitate international payments."

She also praised it for its "credibility" in comparison to Bitcoin, which she and the Chinese have described as "money of crime on the dark web."

Examining Rios’ Claim

Rios' most recent tweet, which has gotten a lot of attention, is problematic in numerous ways. This includes stating that Bitcoin and Ethereum (among other cryptocurrencies) are just valued for speculation, which is simply not true.

Bitcoin is now used as currency in El Salvador, and it acts as a digital store of value for many big companies and individuals.

Ethereum fulfills the same purpose for other investors, including Robert Kiyosaki, and is crucial to the growth of the nascent NFT company, as well as a key component of the entire DeFi ecosystem.

Rios also claims that XRP is unique in its ability to facilitate cross-border transactions, which is not typical in the cryptocurrency world.

Indeed, Bitcoin's Lightning Network implementations, as well as Twitter's recent usage of it, provide convincing evidence that others may serve similar roles.

 

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