It is evident there is a growing interest in Ripple and its native XRP token. Even though the asset is subject to some volatility right now, there is no reason to despair yet. One of the early investors in cryptocurrency and Ripple is Matthew Mellon. Over the past few years, his investments have certainly paid off. There are quite a few opportunities to make a profit with any investment, but Ripple and cryptocurrency are on a different level.
Matthew Mellon Invested in Ripple Early On
It is quite interesting to see how people look at Ripple in different ways. We are talking about Ripple the project here, and not necessarily its native XRP asset. Ripple technology has been of keen interest to banks all over the world. It is possible large consortia in Asia will implement Ripple technology over the coming years. All of this is made possible thanks to the investors who financially supported the project at an early stage.
One of those investors in Matthew Mellow. A few years ago, people assumed he was crazy when backing Ripple. After all, the technology was unproven, and there seemed to be no immediate need for a Western Union competitor. Then again, WU is a very expensive service and consumers will always look for cheaper alternatives Ripple fits all of the right boxes to make that become a reality.
As a result, Matthew Mellon took some of his own money and contributed to Ripple. It was not his only investment in the world of cryptocurrency and distributed ledgers, though. Over the years, he made quite a few strategic contributions. Fast forward to today, and those investments turned into US$280m. Not a bad investment when starting out with “just” two million a few years prior. Such spectacular returns are virtually unheard of in the financial sector these days.
All of this goes to show strategic investments in cryptocurrency, blockchain, and digital assets still have a ton of potential for financial gains. Granted, no one can predict what the future may hold. For Matthew Mellon, investing in Ripple was certainly a smart decision. The project has seen a lot of positive attention, with more news to be expected later this year. This does not necessarily affect the XRP value, though, albeit that seems to be rather stable as well these days.
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.