Ripple’s founder is known for his harsh comments about Bitcoin. For example, he has recently claimed that Bitcoin is not the “panacea” of the cryptocurrency market and even hinted that Ripple’s XRP tokens might eventually replace the world’s #1 cryptocurrency.
The enterpreneur is sure that the people who consider Bitcoin to be the leader of the cryptocurrency market are mistaken, as the coin will hardly keep its positions for much longer. The known fact is that more than 50% of Bitcoins are located in China.
In his opinion, there are absolutely no guarantees that the government of China will not interfere with Bitcoin, try to regulate or suppress it. Also, not many people will agree to such uncertainty.
“I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China. There are four miners in China that control over 50% of Bitcoin,” Garlinghouse claimed during his interview with the Street.
After describing all the vulnerabilities of Bitcoin, he mentioned that the XRP tokens avoided many of Bitcoin’s flaws, which might help them to overcome it in the future.
We would like to remind you that Ripple is currently cooperating with the Chinese authorities about expanding its activities to the territory of this country.
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