Steve Wynn, one of the most successful and powerful businessmen in the gambling world and a member of the MIT Blackjack team – a group of ex-students and students of MIT, Harvard University and Business School and others, has said the remittance-oriented cryptocurrency XRP is designed to have a unit value of $10,000, a Forbes contributor reports.
Steve Wynn made the assertion during a conversation with Forbes contributor John Navin. Steve was asked about his sentiment on XRP’s price target, and he said $10,000 value will happen if XRP is used for every retail transaction and cross border currency transfer. Steve said that this may take a long time to happen, but he’ll make significant profits if it comes true. Steve, an XRP investor, uses odds and probabilities knowledge to analyze what might work.
The discussion about cryptocurrency began when Steve asked what Navin knows about XRP during their conversation. Although Navin replied Steve as being naïve about XRP, their discussion on cryptocurrency broadened.
John Navin inquired what makes XRP stand out among its contemporaries, and Steve said the use case of the cryptocurrency in remitting funds internationally is an important factor.
He furthered that while XRP settles cross-border transactions almost instantly with meager charge, the cryptocurrency is making attempts to take over every retail transaction and cross border transaction.
Steve said the price of XRP at present is only growing based on demand, but when its application witnesses significant adoption, the cryptocurrency will record remarkable growth.
The MIT Blackjack pro said he does not have a price target for selling XRP, hence he’s a long-term investor of XRP.
He clarified his investment position in XRP when asked about how long he desires to hold XRP. Steve said he has plans to hold the XRP token for long term, not less than 5 years.
“I look for value,” I also hold a number of other cryptocurrencies since each crypto has it own used, Steve said as regards other cryptocurrencies he’s holding.
Steve has a net worth of $3.1 billion. He is prominent for creating famous Casino games like Treasure Island, Wynn Las Vegas, the Mirage, and Bellagio.
Aside crypto, the prominent American business tycoon said he converted most of his assets into cash, and he’s waiting for the climate to “settle down” before moving into the markets.
Crypto Investor Mark Phillips Also Believes XRP Was Designed for $10,000
The assertion that XRP was designed for $10,000 value per coin can be traced to 2019. Earlier, NewsLogical reported that Mark Phillips, a crypto investor, also thinks XRP was designed for $10,000 value.
He said remittance companies like MoneyGram, SendFriend, among others, will increase the demand and liquidity of XRP, hence enhancing its price. Mark added that if $1.14 quadrillion value of all asset classes could be tokenized via XRP, not less than $11,400 per XRP would be needed.