XRP Picks Up Support from Republican Congressional Candidate

News
Mon, 04/06/2020 - 05:51
Alex Dovbnya
Unlike many XRP detractors, Republican congressional candidate David Gokhshtein is certain that the third biggest cryptocurrency has legitimate use cases
Cover image via stock.adobe.com
Contents

Cryptocurrency investor and entrepreneur David Gokhshtein, who's currently running for election to the U.S. House as a Republican to represent New York's 1st Congressional District, has voiced his support for XRP, claiming that the 'token is not useless.'

Related
Ripple CEO Brad Garlinghouse: 99 Percent of All Crypto Goes to Zero

Cash is still king

Even though Gokhshtein is a rare pro-crypto voice in American political circles, he doesn't try to sugarcoat the detrimental impact that the coronavirus-driven recession will have on the industry. 

As reported by U.Today, he made a prediction that investors would soon start selling their BTC for cash, which has so far proved itself as the only safe haven during this crisis. 

Recently, Gokhshtein once again cautioned cryptocurrency investors not to pray for a financial collapse. The politician believes that it clearly wasn't Satoshi's vision.  

Real use cases  

Ripple CEO Brad Garlinghouse constantly urges regulators not to paint all digital assets with one broad brush to emphasize that XRP has real-life utility. The token is the cornerstone of Ripple's On-Demand Liquidity (ODL) solution, which allows cutting down the cost of cross-border payments

When Garlinghouse was speaking about his predictions for 2020, he mentioned that the world didn't need thousands of digital assets since most of them do not even have a proven use case beyond price speculations. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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