- John Deaton discussed a two-year-old cryptocurrency prediction.
- According to Sygnum Bank, Bitcoin, Ethereum, and XRP were the tokens of the future.
- The current state of those cryptocurrencies is a topic of dispute.
Founder of Crypto Law and blockchain enthusiast John Deaton recently expressed his thoughts on a two-year cryptocurrency recommendation by Sygnum Bank. The bank is considered to be the world’s first digital asset bank, with offices in Singapore, Switzerland, and the United Arab Emirates.
Over two years ago, Deaton shared the top 3 crypto assets that Sygnum Bank recommended, which were Bitcoin, Ethereum, and Ripple’s XRP.
Deaton quoted the bank’s opinion on Twitter, stating:
Why own BTC, ETH, and XRP? The Head of Asset Management of Sygnum, a Swiss bank in Singapore, called out to the public to increase exposure to “the tokens of the future” and lists those tokens to be “#BTC,#ETH, and #XRP”.
According to Deaton’s tweet, Sygnum Bank recommended these three cryptocurrencies in 2020. The bank saw Bitcoin as a store of value and wealth, supporting those who see it as “digital gold”, and Ethereum as an infrastructure play of the future that will be the backbone of Web3. Lastly, the bank recommended XRP and classified it as the future of technology regarding payments.
Deaton then sought the public’s opinion, asking if it was good advice back in 2020 and if it was considered good advice today. The people’s reaction to the predictions was varied. One Twitter user replied, “I would agree with everything except ETH.” Another had an opposing opinion and said, “ No. Bitcoin is useless. It is not a currency. It’s just a highly speculative asset with a fundamental value of ZERO.” He added, “XRP will eventually take the lead when it takes off.”
The recent victory for Ripple in its case against the SEC has affected XRP’s price. According to the Wall Street Journal, “The price of XRP rose more than 70% on Thursday after the decision was issued.”
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