Analyst and trader Peter Brandt said that he still considers the Ripple cryptocurrency an unregistered security, but this will not prevent him from owning XRP under “suitable circumstances.”
Peter Brandt is considered a longtime critic of XRP. Previously, he called XRP a “dubious” cryptocurrency and accused Ripple’s management of market manipulation. Brandt urged the US Securities and Exchange Commission (SEC) to classify this crypto asset as a securities even months before the agency filed a lawsuit against Ripple.
The regulator accused the company of conducting an unregistered ICO worth $ 1.3 billion. Ripple’s litigation with the SEC is still ongoing. However, the trader does not rule out that he could become a holder of this cryptocurrency if Ripple solves problems with regulators.
“Gary Gensler, who now serves as chairman of the SEC, has many more tasks of this type to solve. Personally, I believe that XRP is a security, but that will not prevent me from owning XRP if the circumstances are favorable to buy it. ” wrote Brandt on Twitter.
Brandt’s followers asked what he thought of ETH. The analyst replied that ETH cannot be called a security, as the coin has a completely different structure and ecosystem. Earlier, the SEC stated that it does not equate ETH with securities, so many cryptocurrency issuers criticize the agency for a vague position in relation to cryptocurrencies.
At the same time, Brandt is confident in the potential of bitcoin. In June, he suggested that the first cryptocurrency would hit $ 100,000 in the long term.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
