SBI CEO Reveals Shocking Truth About $10 Billion XRP Claim—You Won’t Believe It!

• SBI CEO debunks $10 billion XRP claim with major correction.
• SBI’s 9% stake in Ripple revealed as a hidden asset.
• Ripple’s $50 billion valuation makes SBI’s investment worth billions.

SBI Holdings CEO Yoshitaka Kitao recently set the record straight after a viral claim that SBI holds $10 billion in XRP tokens. In a clear and direct response, Kitao revealed that the financial powerhouse does not own such a massive amount of XRP. Instead, SBI’s significant involvement with Ripple comes through its 9% equity stake in Ripple Labs, the company behind XRP.

The confusion began when a Twitter user praised SBI’s expansion into Singapore, inaccurately stating that the company held $10 billion in XRP. Kitao wasted no time in correcting this misinformation, pointing out that holding such a large sum in XRP would expose SBI to the volatility of the token’s price. In reality, SBI’s equity stake in Ripple offers them a much more stable and beneficial position, free from the wild fluctuations of the cryptocurrency market.

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Kitao’s tweet highlighted that SBI’s stake in Ripple is far more substantial than just holding tokens, and it links them to the broader Ripple ecosystem, which has much greater value than the XRP token itself. His statement serves as a crucial clarification for anyone who might have misunderstood the nature of SBI’s investment in Ripple.

The Hidden Asset: Why SBI’s Stake in Ripple Is Worth Much More

Kitao further elaborated on why he views SBI’s stake in Ripple as a “hidden asset” that isn’t fully represented in the company’s book value. He pointed out that Ripple’s total valuation, which includes its expanding ecosystem, far surpasses the value reflected in private market metrics. Recent reports peg Ripple’s valuation at over $50 billion, which means SBI’s 9% share could be worth approximately $4.5 billion.

This strategic investment positions SBI to benefit significantly from Ripple’s future growth, making their stake in Ripple much more than a simple equity holding. The ongoing development of Ripple’s technology, partnerships, and its presence in the digital asset space further amplify the value of SBI’s investment.

SBI has been a steadfast ally of Ripple since 2016, and this long-term partnership has grown stronger over time. Recently, SBI also made waves with its acquisition of a majority stake in Coinhako, a regulated cryptocurrency exchange based in Singapore. This move demonstrates SBI’s ongoing commitment to shaping the future of digital assets and its ever-expanding role in the cryptocurrency sector.

With this latest revelation, SBI’s position in Ripple has become clearer, reaffirming their dominance in the cryptocurrency ecosystem and showcasing their far-reaching influence in the industry.

Also Read: RippleX Warns XRP Operators: Upgrade to 3.1.0 for Key Fixes & Security!

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