Peter Brandt calls XRP a 'fools coin', says it has a different role from bitcoin

Veteran trader Peter Brandt recognised XRP's usefulness for trading but said that function alone does not justify a rise in its market value.

On Aug. 26, blockchain outlet The Crypto Basic reported that Brandt said in a recent interview that XRP should be distinguished from bitcoin and assessed by different valuation standards.

He classified bitcoin primarily as a store-of-value asset and XRP as a utility-focused cryptocurrency. He derided XRP as a "fools coin" but said it can be used effectively for transaction purposes and is inexpensive.

Brandt's key point was separating utility from price. He said an asset being useful for transactions does not immediately determine how much value it should have in the market. Using the U.S. dollar as an example, he explained that people do not buy dollars as a long-term holding asset simply because it is efficient as a medium of exchange.

Asked whether his view of XRP had changed as Ripple expanded partnerships and advanced its business, Brandt focused on supply structure and transaction use. He said that, based on XRP's transaction role, investors may one day be able to more clearly distinguish overvalued and undervalued phases. He did not present a price target or specific price outlook.