Cryptocurrency evangelist and Blackmore Hedge Fund CEO Phillip Nunn believes Ripple’s XRP is a better bet than Bitcoin.
Writing on Twitter, he said: “Bitcoin (BTC) in its purest form is more decentralized than XRP. However, only one country controls a majority of Bitcoin mining/supply and can decide to wrap it up. This is why XRP is a better bet for mainstream growth.”
Phillip Nunn believes the Bitcoin network is heavily reliant on Chinese based mining pools. If China decided to clamp down these mining movements it would have a devastating effect.
This is where Nunn says XRP has an edge over BTC, it’s flexible, it has mainstream acceptance and many large financial institutions are already adopting the technology.