VivoPower, a Nasdaq-listed company, is making a big bet on XRP. They’ve figured out a way to get XRP at a massive discount – up to 65% off the market price!
How They’re Doing It
Their secret? Mining other cryptocurrencies and then swapping them for XRP. This clever strategy involves two key steps:
-
Mining More, Paying Less: VivoPower’s digital asset arm, Caret Digital, is buying lots of mining equipment at bulk discounts. This lowers the cost of mining other cryptocurrencies.
-
Swapping for XRP: Instead of buying XRP directly, they’re swapping the crypto they mine for XRP. This, they claim, results in a 65% discount compared to buying XRP on the open market. While they haven’t shared the exact formula, they say it’s based on current market prices and the economics of mining and buying equipment.
Beyond Mining: Growing the XRP Holdings
VivoPower isn’t just relying on mining. They’re also using other methods to increase their XRP holdings and generate income:
-
Doppler Finance Partnership: They’ve partnered with Doppler Finance to invest $30 million in XRP. The plan is to reinvest the earnings back into more XRP, creating a compounding effect.
-
Accepting Ripple USD (RLUSD): VivoPower’s Tembo subsidiary (which makes electric vehicles) will now accept RLUSD for payments. This makes sense for their global business and aligns with their XRP strategy, since RLUSD is linked to XRP.
The Big Picture
VivoPower’s plan is a three-pronged approach:
- Get XRP Cheap: Mine other cryptos and swap them for XRP at a significant discount.
- Make XRP Work:
Earn interest on their XRP holdings through partnerships like the one with Doppler Finance. - Integrate XRP into Operations: Use RLUSD for payments, strengthening their ties to the XRP ecosystem.
Essentially, VivoPower is aiming to become a major player in the XRP world, accumulating a large XRP treasury while also finding ways to use XRP and related assets in their daily business operations. At the time of writing, XRP was trading around $3.02.