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Trading legend Peter Brandt has trashed the DLT giant Ripple, calling it “a huge bag holder”

Trading legend Peter Brandt has long had an unfriendly attitude towards XRP. And this time, Trading legend Peter Brandt, who previously often posted XRP charts and still keeps an eye on Bitcoin, has trashed the DLT giant Ripple, calling it “a huge bag holder” because this company still holds more than half of all XRP.

Trading legend Peter Brandt has trashed the DLT giant Ripple, calling it “a huge bag holder”

He also called recent reports that Ripple’s board member Yoshitaka Kitao was chosen as the economic advisor by Japan’s new prime minister Yoshihide Suga “fake news.”

Peter Brandt tweeted that he does not trust a market featuring a considerable bag holder, referring to Ripple owning around 60 percent of the total XRP supply.

The discussion began with the prominent trader commenting on a report about SBI Holdings CEO Yoshitaka Kitao (who is also a board member of the Ripple blockchain behemoth) Japanese prime minister Yoshihide Suga as his economic advisor.

Peter Brandt called that “fake news” and thus brought a storm of critics down on himself from the XRP community, which respectfully argued with Peter Brandt.

On Wednesday, Suga and Kitao were on a friendly relationship, and the former was elected as the country’s new prime minister after Shinzo Abe recently resigned due to health concerns.

In the stream of comments mentioned above, an opinion was shared that financial giant SBI Holdings has about 60% of Japanese banks under its control, which could spur further XRP adopted by these banks in Japan, according to Twitter user Dave Lui – an investor and fundraiser.

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