XRP: Is Everyone Losing Their Minds? 🧐

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It appears Mr. Michael A. Gayed, a gentleman of some standing at Toroso Investments and purveyor of The Lead-Lag Report, has deigned to express a…shall we say, inclination towards the XRP token. One can only imagine the flurry of excitement amongst those devoted to its fortunes! He has hinted, on the new-fangled “X” network, that he might become…annoying about it. A prospect perhaps best met with a stiff drink and a resigned sigh.

Indeed, certain members of the XRP community – ever hopeful – view these pronouncements as a signal that the world of sensible finance is at last taking notice. One wonders if they shall be disappointed. Mr. Gayed, you see, is one who concerns himself with risk signals, macro observations, and crafting ideas for investing – activities typically reserved for those beyond the realm of mere speculation.

He has even been permitted to address the public on the channel of CNBC, a circumstance which speaks volumes, or perhaps… very little.

And not to be outdone, that Mr. Dave Portnoy – a name familiar to many, though perhaps not for his financial acumen – has recently seen fit to invest a rather extravagant sum, a million dollars to be precise, in XRP. A bold move, to be sure! One hopes his tailor has been warned of potential changes in fortune.

A Discerning Eye for ETFs

Mr. Gayed, it must be noted, is not one to fall prey to fashionable enthusiasms. He has previously cast a somewhat jaundiced eye upon the current obsession with Bitcoin, dismissing the notion of it being “digital gold” with a rather pointed disdain. He has even declared Bitcoin ETFs to be a most unwelcome development!

On the seventeenth of November, he boldly asserted that Bitcoin ETFs were, and I quote, “the worst thing to happen to Bitcoin.” A strong statement, even for a gentleman of firm convictions. He further suggested that BlackRock – a firm of considerable influence – has profited more handsomely from these ETFs than the unfortunate investors who purchased them. A rather cynical perspective, wouldn’t you agree? He believes, you see, that such instruments benefit the issuers far more than those who, in all innocence, risk their capital.

The timing of his somewhat ambiguous endorsement of XRP is, of course, connected to the recent surge of interest in U.S. spot XRP ETFs. As of this very day, nine such ETFs have amassed a respectable $900 million under their management since their launch, with daily contributions continuing at a brisk $10-15 million. Amongst the prominent houses offering these ETFs are Franklin Templeton, Bitwise, 21Shares, ProShares, and Grayscale. One can only anticipate what follies may ensue. 🤦‍♀️

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2025-12-07 11:20