What’s all about the hype of any crypto creating an “All-time high”?
You must have seen news floating around on Facebook, Twitter, and Instagram from the last two days that Ethereum broke its all-time high, Doge broke its all-time high.
Well, as most of you have assumed and if not, then let me explain, It is a pretty self-explanatory term to describe a level touched or crossed by any cryptocurrency in its lifetime since the inception, as cryptocurrencies are valuable assets and the buying and selling of them increases the price and the value same as what trading of stocks does to the stocks of any company so, whenever crypto touches a level that has never been touched or crossed in its lifetime it is defined as the all-time high of that cryptocurrency.
Fun fact: There was a time when $200 was an all-time high for bitcoin, the rest is history.
So, recently due to “institutional interest” the price of the second largest cryptocurrency of the world Ethereum broke its all-time high along with the meme coin Dogecoin. Ethereum crossed its $3200 mark and Doge crossed its $0.48 mark, Why is it so hyped?
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Because value assets like cryptocurrency and stocks are more likely to move even higher if not guaranteed but, the chances are pretty high. Now you may ask what the heck is this “institutional interest”, Let’s leave it for another day and another interesting read. Why don’t we just focus on who we have today?
Today we will be talking about the one and only visionary Mr. Chris Larsen the executive chairman and co-founder of your favorite “Ripple”. The XRP token. We will cover some of the interesting aspects of his life, his holdings, and Net worth. Not to brag, but, I have some pretty huge numbers to show.
Introduction
Chris Larsen is best described as a business executive and Angel investor. He was born in San Francisco, California in 1960 and had a very humble childhood as his father was an aircraft mechanic and his mother being a freelance artist.
Larsen completed his formal education from San Francisco state university getting a degree in Bachelor’s of Science and then went on to complete his MBA from Stanford University graduate school of business.
In 1990 while working with a mortgage lender he became friends with Janina Powlowski, one of his colleagues, and decided to quit their jobs to launch a loan lending business, but, due to the frustration from the mortgage lending industries practices they raised some money from there friends and family and moved to Dublin at a low rent site to launch there mortgage lending website Eloan in around 1997. It was one of the first few online mortgage lending websites at that time and the motive was to cut the broker charges from between and providing direct loans.
In 1998, Yahoo pitched them for a 23 % stake and in 1999 the company went public also earning 1 billion dollars in revenue in 2000 and became the first company to provide FICO scores.
In 2005, Chris Larsen launched Prosper market place which was an online marketplace where lenders and borrowers engaged to auction/bid rates for loans and mortgages, it was also listed in the “Most innovative companies” list published by Fast companies. After funding an around 270 million dollar loan, in 2012 Larsen resigned as the CEO of the company, but, decided to look over as the chairman of the company.
In 2012, He co-founded “Ripple Labs” previously known as “Opencoin” and became the first few companies to harness the power of blockchain technology and worked on improving the security, reliability, and speed of digital transactions all around the world, they also launched their digital global cryptocurrency named “ripple” and the made the technology behind this open-source. In 2014, Ripple was the largest cryptocurrency after bitcoin then slowly losing momentum to Ethereum… Now being the third as per the market cap. But more than 255+ companies are using the ripple net as the backbone of all the financial transactions around the world.
According to Forbes crypto rich list of 2021, Mr. Larsen stands in the prestigious number three position
Now that’s a revolutionary achievement.
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Chris Larsen net worth
According to the same list, the total net worth of Chris Larsen is assumed to be 340 crores US dollars. Baum!
What less did you expect from the co-founder of Ripple when it is placed in the third position in every list of every crypto exchange when sorted as the market cap, “Tether” is the fourth. These are the few people who are laying the first few stones in the biggest wall of revolution that is being built for the future. The future of digital currency and blockchain. Greatest of personalities with such simple and humble backgrounds.
