Ripple CEO: The company's current XRP holdings exceed $100 billion, and the previous $11 billion valuation is "seriously outdated"

Ripple CEO Brad Garlinghouse said that Ripple's previous $11 billion valuation is now "seriously outdated" following the sharp rise in XRP prices and the increased demand for Ripple's blockchain solutions. He pointed to the company's large holdings of XRP (currently valued at over $100 billion) as a key factor in changing Ripple's valuation outlook in a recent interview. Garlinghouse also compared Ripple's valuation metrics to MicroStrategy, noting that the latter trades at a premium to the value of its assets, "Ripple has been trading at a discount to the value of its assets in the private markets, while MicroStrategy trades at more than 3 times its net asset value." In early 2024, Ripple repurchased $300 million worth of shares, which valued it at $11 billion at the time. However, Garlinghouse said that such a valuation is no longer relevant to Ripple's current financial situation due to the rise in XRP prices and institutional adoption. In addition, Garlinghouse said that the past few months have marked a "turning point" due to the departure of Gary Gensler, chairman of the US SEC, and the opportunity for regulatory certainty under the new government. Regarding the recent changes in the US government's stance on cryptocurrency innovation, he said that "the wind has changed." He also recently mentioned that 95% of Ripple's customers are outside the United States, but he expects interest to return to the United States in the coming months. (Coingape)