Mark Yusko is the CEO of one of the largest hedge funds in cryptocurrencies. And he has expressed in his latest statements that "Ripple and Stellar are too centralized."
Morgan Creek Digital rejects the centralized
Mark Yusko, CEO of Morgan Creek Digital , confirmed that his policy on the two of the most important altcoins in the crypto market would remain unchanged. Currently Ripple (XRP) is in third place and Stellar Lumens (XLM) is in 13th place by market capitalization.
"We don't have Ripple and Stellar hodl because they are too centralized. That has been our policy, to stay away from any crypto that is centralized. ”
Centralization in the sector has always been a problem with those who disapprove of projects that are not fully decentralized. For years XRP and Stellar have been in the eye of the hurricane of decentralization.
Ripple and Stellar are too centralized
As is well known to all, Ripple, the company behind this major altcoin, is the largest XRP hodl, with around 6.5 billion XRP under its power.
Furthermore, this cryptocurrency continues to create controversy over its incredible centralization. The constant sales of XRP that they have made have flooded the market, and has caused its price to continue falling. This situation has even led some users to demand that this be stopped, or even a possible hard fork.
These types of policies mimic what the S&P 500 does, regarding its policy of not listing companies that are too centralized, and therefore easy to fall victim to market manipulation.
"Tesla is a company whose size is simply astronomical. It could be listed in the S&P, but they cannot deny that they are very centralized, and their price can be manipulated"
In January, Ripple CEO Brad Garlinghouse responded to accusations that the company could "manipulate" the XRP price, comparing its position to Bitcoin's largest Whale.
For this reason, neither XLM nor XRP will be listed in Morgan Creek Digital's hedge fund.
Morgan Creek Digital Policies
Furthermore, Mark Yusko expressed that his policy also excludes crypto that cannot be easily traded like Bitcoin (BTC), Ethereum (ETH) Dash, or Monero (XRM).
"There is nothing wrong with Utility Tokens, or 'shitcoins' as they are affectionately called. There is nothing wrong with them, it's just that 99% of them will be worth zero because they are just venture capital. "
We want to know your opinion, do you hodle XRP or XLM? Do you think Ripple and Stellar are too centralized?