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Should the United States consider turning XRP into the world's reserve currency and buying all of their market share?
Well, this speculative idea started by Jimmy Vallee, CEO of Valhill Capital, in 2021, is still touring after discussing it in a recent interview.
But the head of the lab says he didn't even take a close look at it.
Looks like some kind of scam.
The last to mess up Vallee's speculative buyout theory is Ripple's chief technical officer, David Schwartz, who called it a scam in a tweet on Monday.
I didn't really examine it. But what I saw was very much a scam for me. If we’ve learned anything from 2012 and 2022 it’s that anyone promising high returns with low risk is almost certainly going to rob you,” Schwartz said.
The XRP buyback theory has been dismissed by many others in the crypto world, most importantly by Ripple’s former director of developer relations, Matt Hamilton, who, in a long Twitter thread on January 12, termed Vallee’s idea as a complete fantasy and accused him of indulging in bribery.
What is the theory of buying XRP?
Known as the Vallee takeover theory, he called on governments to buy up the entire retail X-ray supply. Vallee also gives a price for XRP’s buyback, an eye-popping $37,500 per token, calculated by dividing total global wealth by the asset’s total supply, media reports said. In recent weeks, xrp has been negotiated to the $0.40 level.
While no one is serious about Vallee's takeover, the XRP community cannot stop speculating if it ever materializes.
Schwartz rejects the hypothesis of speculation as a fraud is apparently an attempt to ensure that the community does not allow itself to be influenced.
Clarification from Barrister Deaton.
Vallee’s interview with the investor, analyst, and business coach Molly Elmore on December 28 added a new dimension to the ongoing saga of theory. He mentioned lawyer John e. deaton, who helped the court in undulating c. Affair of the SEC, where he "fought the sensitization of the SEC."
In the third year now, the case is likely to be resolved in less than six months, Ripple’s CEO Brad Garlinghouse said recently.
Vallee proposed that, on behalf of the XRP holders, Deaton be paid, if purchased, for its efforts to contribute to the greenhouse effect in the above case.
On February 3, Deaton walked away from Vallee's declarations, saying he had no expectation of being paid to "fight the SEC victory."
Unless I appear as a defense lawyer representing a company being sued by the SEC, my efforts will continue to be on a volunteer basis. I will NOT accept any money from any token holders related to my efforts,” he said in one of his tweets.
