Ripple’s Acquisition Ambitions: Could They Secure More Crypto Firms?

Ripple’s potential to acquire crypto companies is backed by its substantial XRP holdings valued at about $93 billion. Following the acquisition of Hidden Road for $1.25 billion, Ripple’s interest in Circle for $5 billion was declined. The company’s recent legal victory has bolstered its position in the market, with plans for further acquisitions and no immediate need for a public offering.

Teddy Fusaro, the President of Bitwise, has been vocal about the potential for Ripple, the enterprise blockchain firm, to make significant acquisitions in the cryptocurrency sector. He estimated that Ripple’s XRP holdings could be valued around $93 billion, which puts Ripple in a strong position to explore buying various crypto companies if it decides to do so.

Just recently, Ripple made headlines by announcing its acquisition of Hidden Road, a prime brokerage, for a substantial sum of $1.25 billion. This deal marks one of the largest corporate purchases in the cryptocurrency realm to date. Shortly after this deal, Bloomberg reported that Ripple was in talks with USDC issuer Circle, offering a staggering $5 billion for the company, which Circle has turned down. Additionally, there were whispers that Ripple might be willing to part with as much as $20 billion for Circle, although these claims remain unverified.

Regardless of whether the acquisition of Circle happens, Ripple is clearly positioning itself as a significant player in the market, especially following its recent legal victory against the U.S. Securities and Exchange Commission along with a notable surge in the value of XRP. Monica Long, the President of Ripple, highlighted the company’s readiness to pursue acquisitions and mentioned that a public offering is not on the table at the moment, thanks to its healthy financial standing.

In another update, Ripple’s CEO Brad Garlinghouse confirmed in December that the company holds assets worth more than $100 billion in XRP tokens, arguing that previous valuations of the company underestimated its worth, especially considering its massive reserves.