Pro-crypto attorney Jeremy Hogan has spotlighted the subtle competition in the broader digital currency ecosystem, specifically featuring XRP and the Bitcoin (BTC) ecosystem. Addressing members of the XRP community, Hogan highlighted the fundamental difference between XRP and Bitcoin. Given the differences between the two assets, he asked XRP holders to “be kind to the BTC guys.”
The Unique Bitcoin and XRP Ideology
According to Jeremy Hogan on X, Satoshi Nakamoto founded Bitcoin on the libertarian idea of self-custody. The asset was also created to provide immunity to deflation and control, among other things.
He mentioned these features to outline the need to keep an eye on the core focus behind Bitcoin amid a shift in big money control over the past few years. Since at least 2020, there has been a massive emergence of corporate investors in the Bitcoin ecosystem.
Firms like Michael Saylor’s Strategy and asset managers like BlackRock and Fidelity now have big stakes in Bitcoin. In addition, the US government now has a strategic Bitcoin reserve, following an Executive Order signed by President Donald Trump.
According to Jeremy Hogan, these adoptions are incompatible with BTC’s overall idea. This contrasts with XRP, which was designed for mainstream economic integration.
BTC, XRP, and the Reserve Conflict
Since President Donald’s campaign months, the conversation around a strategic national Bitcoin reserve has been on the forefront. The conflict occurred earlier this month when the President announced the national crypto reserve, including XRP, Cardano, and other altcoins.
This shift sparked debate in the market, with Bitcoin Maxis kicking against the idea. This shift marked the renewed rivalry between the BTC and XRP ecosystems. Altcoin proponents argued that the idea of a crypto reserve for the country should be representative of its technological makeup.
Eventually, only a Bitcoin reserve was created, with other altcoins pitched for potential inclusion in the Sovereign Wealth Fund.
XRP ETF May Level the Playing Field
Bitcoin generally has the first-mover advantage in the crypto ecosystem, even in pioneering the exchange-traded fund (ETF) market. However, based on the US Securities and Exchange Commission’s (SEC) pro-crypto shift, other assets like XRP may eventually get an associated ETF.
Asset managers pushing for an XRP ETF product include CoinShares, Bitwise, Grayscale, and WisdomTree. BlackRock is also speculated to be eyeing the offering after the completion of the Ripple versus US SEC lawsuit.
With confirmations of advanced negotiation for the Ripple Lawsuit settlement, the prospects of the XRP ETF appear to be high. If approved, the coin may also welcome increased adoption from institutional investors to bridge the Bitcoin liquidity gap further.
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