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A Prominent Satoshi Contender Denounces XRP and Solana as “Obvious Frauds” Due to Holdings
Peter Todd, a Bitcoin programmer from Canada and a leading contender for the title of Satoshi, as highlighted by HBO the previous year, has voiced strong disapproval of incorporating alternative cryptocurrencies like XRP and Solana (SOL) into vital digital currency holdings.
Todd asserts that undertaking such an action would constitute an unambiguous deception, exclusively favoring the centralized bodies purportedly overseeing these digital tokens.
Conversely, Todd posits that a reserve consisting solely of Bitcoin is akin to a gold reserve.
“The Bitcoin component is simply acquiring virtual gold, not significantly dissimilar to a strategic gold reserve,” Todd remarked.
The initial declaration of the reserve triggered substantial percentage increases for digital tokens like XRP and ADA, yet it has encountered extensive critique.
Even individuals supportive of digital currencies, such as Bitwise CEO Hunter Horsley, have cast doubt on the incorporation of these alternative cryptocurrencies into holdings.
Predictably, the pronouncement has elicited staunch resistance from Bitcoin purists who advocate for exclusive BTC holdings. Advocates of these alternative cryptocurrencies contend that the digital tokens lack sufficient decentralization to warrant inclusion in holdings.
Todd, who was enlisted by a banking consortium to scrutinize Ripple in 2015, has maintained a longstanding critical stance toward XRP.
“If Ripple had simply acknowledged that XRP was a centralized framework, it would be considerably more challenging to denounce it… It’s paradoxical,” Todd expressed in 2018. Toncoin (TON) Value Forecast for March 26th
