An XRP community pundit has suggested that Ripple may choose to scoop up the billions in XRP held by its co-founder, Chris Larsen.
Notably, this claim came from “XRP Liquidity,” an anonymous market commentator who has persistently tracked XRP’s circulating supply and the movements of XRP tokens to and from prominent wallets on the XRP Ledger (XRPL).
His latest commentary comes on the back of Evernorth’s decision to raise $1 billion worth of XRP for the establishment of the largest XRP treasury globally. For context, while firms like VivoPower and Trident Digital have announced plans to set XRP treasuries, no single firm has purchased up to $1 billion worth of the asset.
Larsen Moves 50M XRP to Evernorth
According to a recent report from The Crypto Basic, Japanese financial giant SBI is one of the firms backing Evernorth’s campaign for an XRP treasury, committing $200 million to the cause. Other investors have pledged $645 million, while Ripple will be contributing $300 million.
Interestingly, as one of the investors, Ripple co-founder Chris Larsen has committed 50 million XRP, worth $120 million, to the campaign from his personal purse. Larsen, who currently serves as Ripple’s executive chairman, moved the 50 million XRP from one of his accounts, labeled “chrislarsen2,” to the Evernorth wallet on Oct. 20.
While the transaction initially triggered selloff fears, as highlighted by CryptoQuant analyst Maartunn, The Crypto Basic confirmed that the movement pertained to Larsen’s contribution to the Evernorth fundraiser, which did not translate to a selloff. After the transaction, Larsen now holds 2.5 billion XRP, part of the stack he received as a gift when the XRPL launched over 13 years ago.
Could Ripple Procure Larsen’s XRP Stack?
Speaking on this, “XRP Liquidity” suggested that Ripple, as a firm, could buy off these leftover 2.5 billion XRP tokens from Larsen. Despite his affiliation with the firm, Larsen is still a private individual with an enormous amount of XRP. The market pundit suggests Ripple would have to take control of this stack.
Notably, the firm could learn a lesson from fellow co-founder Jed McCaleb, who systematically dumped all his XRP stack on the open market after leaving the firm, although it took him eight years to empty his bag.
“XRP Liquidity” also noted that Ripple may also look to purchase the XRP holdings of Arthur Britto, another Ripple co-founder who has chosen to remain anonymous. Data from XRPScan indicates that Britto owns up to 1.3 billion XRP.
Today, Britto’s XRP holdings are worth about $3.12 billion, while Larsen’s bag carries a value of $6 billion. For context, his XRP balance alone makes Larsen as rich as billionaire Mark Cuban, the 638th richest man in the world.
Interestingly, XRP Liquidity pointed out that if XRP ever hit an ambitious price of $200, Larsen would hold $500 billion. He suggested that Ripple could not have that. However, his commentary represents mere speculation at this point, as there is no hint that Ripple would be looking to procure Larsen’s stack.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.