“Things without practical value are hard to sell,” a #XRP supporter responded to #Bitcoin investors’ concerns. #Ripple🧵🧵🧵
Bitcoin author Natalie Brunell shared a compelling summary of her weekend conversation with investors, much to the delight of XRP supporters.
Her summary outlined numerous concerns surrounding Bitcoin, the world’s largest cryptocurrency. Many expressed regret for missing out on buying when Bitcoin’s price was lower, such as around $800.
In contrast, others expressed concerns about Bitcoin’s dependence on electricity, the recoverability of lost keys, and long-standing misconceptions about Bitcoin’s origins.
Furthermore, some were skeptical about Bitcoin potentially reaching $1 million. They considered it “just a 10x return” and complained that they preferred assets that could deliver 100x returns.
Others stated they preferred traditional assets like real estate due to tax advantages such as Section 1031 tax benefits.
Some people said they gave up on investing because brokers advised against it. But one comment on Brunel's post stood out: some investors simply said, "I like XRP."
In summarizing her reflections, Brunel quoted a well-known saying in the cryptocurrency world: "We're still in the early stages." This suggests a significant knowledge gap still exists within the investor community.
Meanwhile, Zach Rector, a prominent figure in the XRP community, responded to Brunel's post with a slightly sarcastic remark: "Things without utility are hard to sell."
His comment suggests that skepticism towards Bitcoin stems from its perceived lack of utility. He echoes a long-held view within the XRP community that practical applications in areas such as payments, liquidity solutions, and financial infrastructure will drive the adoption of digital assets.
For many XRP supporters, the investor reactions Brunel mentioned explain why XRP continues to attract attention even amidst the Bitcoin hype. It has a price advantage over Bitcoin.
Meanwhile, industry leaders such as Coinbase CEO Brian Armstrong stated that the entry price of Bitcoin is not important, and holding full Bitcoin is not a prerequisite for participation.
Others also commented on Brunell's post. Noble Investing pointed out that skepticism about the future returns of assets is nothing new. He stated that people have had similar doubts about real estate for years. However, real estate has ultimately become one of the most effective tools for generations to accumulate wealth.
Bloomberg analyst Eric Balchunas commented on the claim that Bitcoin reaching $1 million is only a 10x increase. He believes that those who make such claims are "living in a fantasy world."
Brunell responded that wealthy investors typically seek to preserve and grow their wealth, avoiding high volatility. Meanwhile, those pursuing wealth are looking for the kind of 1000x returns enjoyed by early Bitcoin investors—which is precisely why they are skeptical.
Ultimately, Brunell's post and the resulting reactions demonstrate that many investors are still judging Bitcoin with outdated concepts. Meanwhile, within the XRP community, many believe that the next phase of cryptocurrency growth will depend on its real-world utility, rather than its promotion as a store of value.
Nevertheless, the discussion still confirms that Bitcoin remains the leading crypto asset.