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Home»BITCOIN NEWS»How does Chad Steingraber explain the theory?
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How does Chad Steingraber explain the theory?

By Crypto FlexsJanuary 1, 20245 Mins Read
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How does Chad Steingraber explain the theory?
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Chad Steingraber, a professional game designer and prominent figure in the XRP community, recently updated his theory about the potential future price of XRP, originally published in August 2022. Dubbed the “Chad Steingraber Theory,” it lays out a complex roadmap that predicts XRP’s journey to a whopping $20,000.

Central to Steingraber’s argument is the principle of asset scarcity in relation to supply and demand. He explains how scarcity can increase the value of an asset, such as in an auction where numerous bidders compete for a limited asset.

“Asset shortages, which are part of supply and demand, are also a problem. It’s like auction bidding, where many people are bidding on a limited set of assets that only a few of them can own. This can drive the value up, and only stop when no one is willing to pay a higher price,” he said, emphasizing that this scarcity can be a driving force in XRP valuation.

Steingraber also explores the areas of market valuation and ‘ghost money’. He explains how the current price of an asset can reflect its expected future value. This is a similar concept to selling the idea of ​​a desirable future home on valuable land for its current perceived value. He also introduces the concept of ‘Phantom Money’, which indicates that market capitalization often reflects the perceived value of an investment rather than its actual value.

“The current market capitalization of XRP is $30 billion. However, this does not mean that $30 billion has actually been put into XRP. (…) Market capitalization is much less because it reflects the current value that everyone is willing to pay for. Do you remember Phantom Money? Steingraber explained.

Drawing a parallel with unique and limited assets such as the Mona Lisa, Steingraber emphasizes the perception of value. “The Mona Lisa has value because it is one of a kind… Its value is in our hearts,” he says, noting that value is often assigned based on originality and social significance. This analogy serves to highlight the perceived value of coins in the cryptocurrency market.

“Chad Steingraber Theory” – Your Path to $20,000 #XRP
Thread from The Future🧵 (Updated)

It’s been a year and a half since I wrote this original thread and a lot has happened, including some of this theory.

Shall we have a drink, eat a snack, and take a ride? https://t.co/TU7CLwwh1T

— Chad Steingraber (@ChadSteingraber) December 30, 2023

Banks will push XRP price to $20,000

At the core of Steingraber’s theory is the idea that banks hold XRP as a reserve asset, similar to gold. He explicitly states that “banks that have XRP, that’s the Holy Grail,” highlighting a potential change in how financial institutions perceive XRP. These changes will elevate the status of cryptocurrencies, positioning them not only as transactional cryptocurrencies but also as basic assets for banking.

Steingraber envisions a future where banks will create private ledgers for their internal operations, requiring significant XRP reserves. “Banks will create private ledgers and hold XRP as a reserve asset, much like central banks hold gold as a backing asset,” he explains. This approach to using XRP signals a paradigm shift in digital asset management, reflecting the traditional banking system’s dependence on gold.

The theory also highlights the important role of liquidity hubs like Metaco in this new banking ecosystem. Steingraber points out that these hubs must maintain large XRP balances to facilitate interbank transactions. “Because LH is a third-party exchange that needs to transfer XRPL from issued IOU derivatives to other IOU derivatives, it also holds XRP balances,” he says, emphasizing the importance of XRP in this process.

A pivotal aspect of Steingraber’s theory is that as banks accumulate XRP, there will be a shortage of XRP on the public markets. “The public supply of XRP circulating on cryptocurrency exchanges is much smaller than people realize,” he said. Banks will come for public XRP supply when they are ready, and once secured… disappears,” he says, predicting significant changes in public provision. .” This anticipated scarcity is expected to trigger FOMO among financial institutions, leading to a rapid depletion of XRP’s public availability.

Steingraber’s theory culminates in a prediction that the price of He envisions a future where these factors could lead to a surge in the value of the cryptocurrency, potentially reaching up to $20,000.

At press time, XRP was trading at $0.61406.

XRP price is trading below 0.382 Fib| Source: XRPUSD on TradingView.com

Featured image created with DALL·E 3, TradingView.com chart

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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