- Bitcoin advocate Pierre Rochard challenges ETH and XRP tokenization.
- XRP experiences a 6% price drop.
- No direct funding impacts on ETH or XRP.
Bitcoin maximalist Pierre Rochard criticized ETH and XRP’s tokenization models on X, causing XRP’s price to drop nearly 6% amid intensified debates on blockchain efficiency.
Rochard’s critique highlights blockchain models’ reliance on fees, potentially deterring financial inclusion, and emphasizes traditional systems’ competitive dominance, affecting investor sentiment.
Pierre Rochard, CEO of Bitcoin Bond, has raised concerns about ETH and XRP tokenization. These critiques arrived shortly after his comments, coinciding with a notable 6% drop in XRP price.
Rochard, known for his bitcoin advocacy, criticized ETH and XRP for their fee and burn models. He argues these models potentially tax the poor and are less effective compared to traditional institutions.
The comments have resulted in divided community sentiment, with some defending tokenization for democratic access. However, Rochard’s position has pressured adoption sentiment for ETH and XRP.
No new capital or grant allocations have been announced following the criticism. On-chain data hasn’t shown significant liquidity changes, indicating the market reaction is primarily sentiment-driven.
Meanwhile, there are rumors about a potential spot XRP ETF approval which still influences market dynamics. Despite negativity, some community members continue advocating for tokenization as a step towards inclusive finance.
The historical precedent shows critiques from Bitcoin maximalists often lead to temporary pricing corrections.
“ETH and XRP cannot sustain long-term value through securities tokenization. The model will end up taxing the poor—traditional institutions and low-fee blockchains provide more efficient solutions.”
– Pierre Rochard, CEO, Bitcoin Bond Source. Regulatory and institutional perspectives remain unchanged, with ongoing discussions on tokenization enduring within the crypto sphere.
