The prominent hedge fund manager has named his conditions for buying XRP
During a recent interview with Paul Barron Network, Morgan Creek Capital's Mark Yusko said that the hedge fund did not actually own any XRP tokens.
"The short answer is that our job…is to invest in digital asset infrastructure. We own a lot of Bitcoin, we own a tiny bit of Ethereum, we own a fair amount of Solana…we don't own XRP," he said.
Yusko explained there there was no demand for tokens like XRP and Dogecoin among founding groups.
"When we talked to funding groups, we haven't met many founding groups that are working on those platforms. We don't own Dogecoin, right?" he said.
Morgan Creek Capital would only consider getting exposure to XRP if XRP was actually going to replace SWIFT white also being adopted by such banking giants as Bank of America and JPMorgan.
He has noted that the "XRP people" want the banking system to use it as a base layer. "Is there a world where you could see enough you know lobbying being done that that gets proposed," he asked.
Yusko has also criticized XRP for not being "properly decentralized," adding that Bitcoin is a better solution.
Asreported by U.Today, Yusko claimed that XRP and XLM were excluded from Morgan Creek's cryptocurrency index fund due to a high level of centralization.
During the most recent interview, he added that Bitcoin as a base lawyer is a better solution.
Recently, Ripple was criticized for allegedly lobbying against a strategic Bitcoin reserve. However, CEO Brad Garlinghouse said that the company's efforts were increasing the odds of a multi-token crypto reserve being created.
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