- Ripple’s XRP increased 300% over the past year, surpassing Bitcoin’s gains during the same period.
- VivoPower, a Nasdaq-listed company, announced plans to purchase $121 million worth of XRP for its corporate treasury.
- The investment effort is led by Saudi prince Abdulaziz bin Turki Abdulaziz Al Saud, with $100 million of the total coming from his group.
- The move adds to a recent trend of companies adding cryptocurrencies, including Bitcoin, Ethereum, and Solana, to their balance sheets.
- U.S. President Trump’s administration, viewed as crypto-friendly, recognized XRP as part of the nation’s “crypto stockpile.”
Ripple’s XRP saw significant growth in the last year, rising 300% and approaching its all-time high from 2018. This increase follows moves by publicly traded VivoPower to include XRP as a major asset in its corporate treasury.
VivoPower, which is listed on Nasdaq, revealed plans to buy $121 million in XRP. The company intends to raise these funds via a private share placement, leading to a rapid increase in its stock price. The fundraising round is spearheaded by Saudi prince Abdulaziz bin Turki Abdulaziz Al Saud, who will contribute $100 million, and former SBI Ripple Asia executive Adam Traidman will become chairman of the board.
Prince Abdulaziz stated in a press release that, “We have been investors in the digital asset sector for a decade and have been long-term holders of XRP.” He added that the decision is based on VivoPower’s “strategic focus on XRP and its objective to contribute to building out of the XRPL [XRP Ledger] ecosystem.” The company plans to use the new funding to purchase XRP for its treasury operations as well as to invest further in decentralized finance (DeFi) projects built on the XRP Ledger.
Adam Traidman described VivoPower’s move as a signal of increasing confidence in blockchain’s real-world uses, saying, “VivoPower’s initiative to become the first publicly listed company with an XRP-centric treasury strategy is a forward-thinking move that reflects growing institutional conviction in real-world blockchain applications.”
Ripple itself controls about 80 billion of the 100 billion total XRP in supply. The company is known for using XRP in cross-border payment solutions for enterprises.
The corporate adoption of crypto assets began with other firms adding Bitcoin to their treasuries, notably led by Strategy in 2020, which saw a significant rise in its own stock as a result. More recently, companies like GameStop and others have started to buy assets such as Bitcoin, Ethereum, and Solana.
XRP gained an additional boost after U.S. President Trump included it on a list of digital assets that would become part of the country’s “crypto stockpile,” which marked a new level of recognition following his election victory.
For further details, see the official statement from VivoPower’s press release.
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