Bitwise CEO Sparks Debate on Ripple’s Future Identity: Details

Hunter Horsley, the Chief Executive Officer of Bitwise Asset Management, has drawn attention to a developing narrative in the digital asset space, the idea that Ripple may transform into an XRP-centric treasury entity within the next year

In a recent post on X, Horsley publicly contemplated whether Ripple could soon be described not just as a blockchain company, but as an XRP treasury institution.

Growing Conversation on XRP Treasury Use

Horsley’s remarks have emerged amid increased institutional interest in XRP for treasury purposes. Notably, firms such as Trident Digital and Webus are reportedly raising close to $1 billion in XRP-linked treasury products, underlining the token’s expanding role beyond cross-border payments. These developments suggest that XRP could be maturing into a strategic reserve asset for certain institutions.

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In this context, Horsley’s observation appears to reflect an evolving narrative. Ripple, a company historically focused on building global payments infrastructure, may be poised to transition into an entity that leverages its XRP reserves more directly, potentially adopting a model similar to MicroStrategy’s with Bitcoin.

Ripple’s XRP Holdings and Speculations of Strategic Intent

Ripple currently controls approximately 40.92 billion XRP, which represents around 41% of the total circulating supply. Much of this amount is locked in escrow, with scheduled releases meant to manage liquidity and market impact.

Despite the escrow mechanism, some industry voices suggest that Ripple’s sizable XRP holdings function similarly to a reserve strategy. Supporters believe this reserve could be used to support institutional partnerships or broader financial initiatives

In particular, some XRP community members, such as Edoardo Farina, speculated that Ripple’s escrowed XRP may be earmarked for collaboration with global institutions like the International Monetary Fund (IMF). However, no official confirmation supports this theory.

A Community Torn Between Critique and Endorsement

However, some commentators pointed out an apparent contradiction in public opinion; critics often blame Ripple for maintaining a disproportionately large share of XRP, while also suggesting it should double down and formalize this model as part of a strategic balance sheet.

As the utility and market perception of XRP continue to grow, questions surrounding Ripple’s future direction remain open. With major institutional initiatives underway and its substantial XRP reserves under scrutiny, Ripple may face increased pressure to clarify its position

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