- Bitwise CEO Hunter Horsley predicts Ripple could become an XRP treasury company within 12 months, drawing comparisons to MicroStrategy’s Bitcoin strategy due to Ripple’s control of over 42% of XRP’s supply.
- While some view this centralization as a risk, others argue the holdings fund Ripple’s development and position it as a key player in XRP’s long-term ecosystem.
Ripple, the blockchain firm best known for pioneering cross-border payment solutions, is once again in the spotlight. This time its not for its technology or legal battles, but for its massive XRP holdings.
According to Hunter Horsley, CEO of Bitwise Asset Management, Ripple may be on the verge of becoming something entirely different, a full-fledged XRP treasury company.
In a post on X, Horsley speculated that Ripple’s trajectory could mirror that of MicroStrategy, the software company now synonymous with long-term Bitcoin accumulation.
Ripple could potentially be seen as an XRP Treasury Company in 12 months,
Horsley wrote, igniting debate across the crypto community.
Ripple currently holds 4.56 billion XRP directly, with an additional 37 billion tokens locked in escrow which is roughly 42% of the total XRP supply. This concentration has long been a source of tension for XRP investors, critics, and decentralization purists alike as ETHNews has earlier reported.
While Ripple often emphasizes the distinction between itself and the XRP token, its role as the dominant holder has made that separation increasingly blurry.
Some in the crypto space are now openly questioning whether Ripple is moving from being primarily a blockchain-based payments provider to becoming a corporate custodian of XRP. Notably this is a role akin to what MicroStrategy has become for Bitcoin.
“Lmao, that would be the ultimate plot twist,” joked one user on X. “After years of ‘XRP is separate from Ripple,’ they just lean into being MicroStrategy for XRP.”
This speculation isn’t entirely far-fetched. Several companies have begun adopting XRP as a treasury asset. Trident Digital Tech aims to raise $500 million with XRP at its core, while Webus International, VivoPower International, and Wellgistics Health are collectively holding nearly half a billion dollars in XRP as reserves.
Ripple officially embracing a treasury role wouldn’t be a radical departure, it might just be an acknowledgment of reality.
Still, not everyone is sounding the alarm. Crypto analyst Jungle Inc. defended Ripple’s holdings, stating they’ve been instrumental in funding the company’s development roadmap, including its EVM-compatible sidechain, bank integrations, and its ongoing battle with the SEC.
Despite the speculation, Ripple has not announced any shift in strategy. However, the market continues to watch closely. With XRP gaining traction as a treasury asset and Ripple holding a substantial portion of its supply, the lines between company and token custodian are increasingly blurred.
Whether or not Ripple officially leans into a “MicroStrategy model” remains to be seen, but one thing is clear: its XRP holdings are more than a curiosity, they’re a defining feature of its evolving identity. And unless Ripple addresses the growing concerns, the speculation isn’t going anywhere.
