XRP Demand Is Causing Ripple’s Stock To SurgeApril 19, 2022 8:36 am
Accredited investors have the ability to acquire pre-IPO shares of blockchain and crypto companies such as BlockFi, Dapper Labs, and Kraken.
The way to acquire these shares is usually through platforms such as Linqto which operates as a firm that acquires private shares from early investors who are looking for capital and puts them back on the market for those interested in the shares.
Right now, such a platform is very popular for crypto unicorns who have reached billion-dollar valuations, but have yet to actually become a public company.
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The company with the greatest demand right now is Ripple Labs which has been recorded to be the stock that Linqto users are buying the most.
Demand to acquire shares of the company is a result of the high demand of its native token XRP despite the ongoing SEC lawsuit that had temporarily setback XRP’s growth.
Pre-IPO tech equity platform @linqtoinc has sold $50 million in private shares of @Ripple, making it the leader of a crypto-heavy basket of firms that might go public.@IanAllison123 reportshttps://t.co/CgV5fLOkVR
— CoinDesk (@CoinDesk) April 6, 2022
But out of a crypto-heavy basket of unlisted company shares, Ripple Labs, creator of the XRP token, is the stock that Linqto users are buying the most.
“We don’t act like a broker, but rather we put our money upfront and buy pre-IPO tech company shares from early founders, investors and employees that need to liquidate shares for whatever reason – that might be to buy a house or send a kid to college,” Nick Burrafato, director of digital asset sales at Linqto, said in an interview.
“We also retain ownership of a percentage of each and every investment we make until the company exits,” he said.
It’s perhaps no surprise there’s a strong demand for private equity in crypto companies given events like crypto exchange Coinbase’s direct listing last year.
Coinbase’s stock was changing hands on the Linqto platform at $32 a share just nine months before it listed at over $350, according to Burrafato.
So far, the Linqto platform has already sold a record amount of private equity to accredited investors which currently amounts to a total of $50 million since the platform’s creation.
Ripple Labs had recently revealed in the past year that the company had reached a record $15 billion valuation which surpassed all expectations given the lawsuit.
As part of the company’s vision, Ripple CEO Brad Garlinghouse had also mentioned that the company would eventually have an IPO and become a public company.
As of right now, the timeline for the company going public is still unknown, but there are hints that it might be as soon as the lawsuit ends which means potentially in the next 1-2 years.
Shares of Ripple were already being sold before the SEC lawsuit and records have shown that demand has not slowed down since.
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— Ripple Van Winkle | Founder Of Lux Lions NFTS (@XRPNews_) April 1, 2022
“We were selling Ripple shares long before the SEC case,” Burrafato said. “Many of our members hold digital assets and they were emboldened by this case with the SEC, and decided they wanted to have a piece of Ripple equity as well as XRP.”
Linqto has a long-standing agreement with the Uphold trading platform to allow users to pay for their chosen slice of private equity using cryptocurrency, including XRP, which has a significant presence on the Uphold.
“Uphold has lots of users who are part of the XRP Army, if you will, so there’s an affinity there,” Uphold Chief Revenue Officer Robin O’Connell said in an interview.
Ripple finally going public as a company one day could mark a major milestone for blockchain firms and for its native token XRP.
Think your clever with your words! Ripple company stock is a security, NOT XRP Crypto token, that’s different!
— Mitzi✨⚡️⚡️ (@miriamvik) April 3, 2022
Thanks to the folks over at Linqto, regular people like you and me now have access to private equity markets before stock goes public.
And guess what?
You might be surprised to learn you’re already accredited!
Trust me, it’s worth your time to take a look.
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