Bitcoin is just a speculative tool, says former US Treasurer

After joining Ripples board of directors in May Rosa Rios bashes Bitcoin as a supposed speculative tool.
After joining Ripples board of directors in May Rosa Rios bashes Bitcoin as a supposed speculative tool.

After joining Ripple’s board of directors in May, Rosa Rios bashes Bitcoin as a supposed speculative tool.

Between the ongoing fight between security regulation officials of the United States and Ripple, Rosa Rios has spoken in support of XRP. She said that Bitcoin (BTC) is just a speculation tool now, and XRP is the real future.

Former treasurer and a member of Ripple’s board of directors tweeted on Sunday, displaying her confidence in XRP and its potential. She further criticized other crypto coins like BTC.

Rosa expressed doubts about Bitcoin

She doubted the importance of BTC by saying that the Chinese are cracking down on it and such a cryptocurrency (BTC) actually offers nothing but speculative help. She tagged BTC, XRP, and its payment methods, RippleNet, and tweeted,

“XRP’s primary purpose is facilitating cross-border payments while other cryptos find their value in speculation. China’s latest move brings this point home.”

Rios worked in the United States Department of the Treasury from 2009 to 2016 under Barack Obama. She has overseen all currency, notes, and coin production activities using a budget of $5 billion per year.

When Ripple’s board of directors, Rios had said that the company is the best example showcasing how blockchain and cryptocurrencies should be used in a legitimate, secure, and substantial way to offer cross-border payment facilities.

Cryptocurrencies turning into tools for illicit markets

Rios also conveyed worries about crypto coins, including Bitcoin, acting as tools for notorious elements. She said people should understand how blockchain technology works, but unfortunately, people are using it to fund criminal activities and the dark web.

Ripple is a crypto product by Ripple labs, a U.S based company, in 2012. It is a distributed open-source protocol and remittance system. The company is involved in several central bank digital currency projects. Additionally, it provides tons of cross-border transaction services.

Chris Larsen, co-founder of Ripple, in early 2021, said that BTC would soon be thrown from being the leader of the market.