BitGo, a top crypto custody and trading company, has partnered with VivoPower. VivoPower will use BitGo’s OTC trading services to buy $100 million worth of XRP tokens. This move is part of VivoPower’s new treasury strategy after raising $121 million.
VivoPower’s decision is among the first corporate treasury allocations into XRP, akin to MicroStrategy’s move with Bitcoin. Holding crypto assets in corporate reserves helps firms diversify and potentially gain from the digital asset market’s growth.
Pro-XRP attorney John Deaton sees this as part of a broader trend. Following Bitcoin Spot ETF approval, Deaton predicted ETFs for altcoins like ETH, XRP, and SOL would follow.
Deaton’s prediction was based on Bitcoin ETFs’ success, leading Wall Street to consider other digital assets. He noted Michael Saylor and MicroStrategy’s shift to Bitcoin as a corporate treasury asset, inspiring other firms to do the same with altcoins like XRP. VivoPower’s action reflects this trend.
Deaton highlighted that financial incentives and Wall Street’s pursuit of profits often anticipate market changes ahead of regulations or public sentiment.
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