- A Bitcoin trader has revealed how his father made the courageous move to liquidate his house for $800,000 to acquire XRP.
- With over five decades of experience, the investor caught Bitcoin (BTC) at $7,000 and Ethereum (ETH) at $200.
A prominent Bitcoin trader has shared what could be the most courageous investment bet made by his father. The trader who goes by the pseudonym “Myles G Investments” on the X platform has revealed that his father sold his residential property for $800,000 and used the money to buy XRP.
Myles was, however, quick to point out that his father has extensive trading experience. Pointing out some of his successes, Myles revealed that his father got him into Bitcoin (BTC) at $7,000 and Ethereum (ETH) at $200. At the time of writing, BTC is trading at $51,552 and ETH is trading at $3,014 after a nearly 10% surge in the last 7 days.
The legendary trader is now betting his house and 50+ years of trading experience, that XRP is the next big thing in the crypto market.
my Dad sold his $800,000 house to buy #XRP.
He’s been investing and Trading for over 50+ years.
He said this is going to be the biggest home run he’s ever made.
Don’t fade my Dad. He got me into #bitcoin at $7,000 and #eth at $200
— Myles G Investments (@MylesGinvest) February 14, 2024
The veteran trader claims selling his house for XRP could be his biggest win, with the son defining it as “the biggest home run he’s ever made.” When asked about the authenticity of his story, Myles affirmatively responded “yes,” but no proof was provided to back his claim.
Myles has gone on to make his own XRP prediction. The trader believes that XRP will reach $3–7 by the end of the year. Notably, XRP reached an all-time high of $3.40 achieved more than 6 years ago. While experts foresee the altcoin revisiting these highs, there is no consensus on the timeline.
At the time of writing, XRP is trading at $0.5454 after a marginal increase of less than 1% in the last 24 hours. The altcoin has been struggling in recent days, losing around 2% on the weekly chart.
XRP Forges Bullish Path
XRP is poised to be one of the most bullish altcoins in 2024 based on key developments around its ecosystem. For starters, a ruling on the ongoing Ripple v. SEC case is expected this year. Legal experts are fairly optimistic of a Ripple win or an out-of-court settlement.
Notably, XRP has secured stablecoin recognition from the World Bank for its seamless cross-border transactions. This marks a significant development that legitimizes the network and token and could potentially drive adoption.
As CNF reported, the XRP Ledger (XRPL) is also undergoing some key developments that could bolster its utility and adoption and drive token prices.
Another key expansion for XRP is a leading issuer of Exchange Traded Products (ETP), Valour Inc., which also doubles as a subsidiary of crypto native technology company, DeFi Technologies Inc., has announced the launch of Ripple (XRP). With greater exposure, the altcoin will enjoy greater demand, which could fuel prices higher.
