Prominent American angel investor Jason Calacanis, who is known for his wildly successful bet on ride-hailing giant Uber, is convinced that the Ripple-linked XRP cryptocurrency is controlled just by "a few individuals."
Earlier, Calacanis argued that XRP was a "centralized controlled security," which is the opposite of Bitcoin.
He predicted that there would be "chaos" if the SEC ended up approving XRP-based ETF products.
The famed angel investor was also critical of the widely discussed summary judgment ruling from July 2023. The ruling stated that sales of XRP tokens on exchanges did not constitute investment contracts.
Alex DovbnyaHe previously claimed that the token was "obviously a security." "It would have cost little for the Ripple team to have registered it as a security and played by the rules — like everyone else in the industry does all day long," he said back in 2023.
Following the SEC lawsuit, Calacanis opined that XRP was a "disaster" that was "clearly going to zero."
Recently, Calacanis clarified that he does not own any XRP or Solana (SOL) tokens.
Will Bitcoin be replaced?
Despite being a long-time Bitcoin investor, Calacanis also questioned the future of the leading cryptocurrency in his recent social media post.
"All technology gets replaced over time…and bitcoin will be no different," he said.
However, some Bitcoin proponents have rejected such an idea since they believe that Bitcoin is comparable to USB, the Internet Protocol or the Simple Mail Transfer Protocol, which have lasted for a long time after achieving dominance.
Vladislav Sopov
Dan Burgin