By Solomon Odunayo
Steve Wynn, a prominent member of a Casino team that profited greatly off of Las Vegas 21 tables in the 1990s, has said that the Ripple’s digital token XRP is designed for $10,000 per coin. He made his opinion about XRP known while in a conversation with a Forbes contributor, John Navin.
About MIT Blackjack Team
The MIT Blackjack Team was a group of students and ex-students from Massachusetts Institute of Technology, Harvard University, Harvard Business School, California Institute of Technology, and other leading colleges who used card counting techniques and more sophisticated strategies to beat casinos at blackjack worldwide.
The team and other members that later joined operated successfully from 1979 through the beginning of 21st century.
Between John Navin and Steve Wynn about XRP
John Navin, a contributor at Forbes, reported that Steve Wynn professed his familiarity with XRP, stating that it’s a cryptocurrency to watch.
The functionality of XRP Is Different from Other Cryptocurrencies
Differentiating XRP from other cryptocurrencies, Steve said “XRP is designed to be an instant funds transfer application. It is attempting to take over all retail transactions and swift international money transfers. If you transfer money now internationally it takes a few days to receive and has fees associated with it.”
He added that XRP transfer is instant, with a very low transaction fee. He believes that the digital currency will accrue a massive gain once its application starts to gain great adoption. He pointed out that the price appreciation it undergoes now only comes from the increase in demand.
XRP Is Designed For $10,000
In the course of the conversation, Steve was asked about the price target he has for the digital token XRP. In response, he said XRP is designed for $10,000 per coin.
Steve Wynn noted:
“It’s designed to have a value of 10,000 per coin. This assumes every retail transaction and international currency transfer uses XRP. This is very optimistic and a long way off. As it goes up I will take some profits at certain times, but I don’t have a targeted price to sell all of it.”
Steve Wynn Is In For the Long Term for XRP
When asked about his stop-loss prices for XRP, he said “Like any investment, this relies on investor’s current financial position. Right now I am in wait and see mode.”
Steve Added that when he bought the digital asset, he was in for the long term. Specifically, he said 5 years.