(image by forbes)
Background: Warren Buffet and American Express
On November 22, 1963, the news of the De Angelis vegetable oil scandal rocked the whole futures market (dragging down American Express with it).
Warren Buffet bought American Express stock while most were running away from it.
(image by amex)
Why?
Buffet believed that American Express was a “Fallen Angel”.
And he was right.
When the scandal’s temporary effects subsided, American Express recovered and surpassed its pre-scandal price and Buffet made millions.
I believe XRP is a “Fallen Angel”.
(image by financialtimes/erdworld)
This is why I still hold Early Adopter XRP:
*Over 90% of Ripple’s business is outside the U.S.
*Prosecuting the Ex-CEO and current CEO requires proving that XRP is a security first.
*The SEC must explain why, after many years of cooperation and interaction with Ripple, litigation is just now occurring — a time when crypto is gaining recognition on the global financial stage and institutional investors are pouring in.
*This will be a long, drawn out process; but meanwhile, XRP continues to be adopted by other, non-U.S. businesses.
*The DCA price of my XRP is <0.0356 USD.
(image by erdworld/coins)
By JaiChai
This is YOUR TORUM INVITATION!
(^images by author)
JaiChai 2–23–2021. Simultaneous multi-site submissions posted. All rights reserved.
Originally published at https://hive.blog on February 25, 2021.
