Andy Schectman, CEO of precious metals firm Miles Franklin, has revealed a strategic, high-risk allocation to XRP, dedicating approximately 10% of his portfolio to the cryptocurrency. In an interview shared by InvestWithD, Schectman described XRP as an "intriguing idea" with significant upside potential, despite his deep-rooted background in the gold market.
Schectman's investment thesis hinges entirely on institutional, particularly bank, adoption. He stated, "If it’s going to take, it’s going to be because the banks embrace it," directly linking XRP's long-term value to its utility in cross-border payments for financial institutions. He tempered expectations, however, clarifying his position is a "calculated, high-risk bet" rather than a certainty, noting, "I believed in it enough to own a little bit."
The news coincides with rampant market speculation around XRP, fueled by unverified online claims that the asset is backed by gold, platinum, and silver, and extreme price predictions ranging from $100 to an unfounded $50,000 per coin by 2028. These narratives have gained traction alongside reports of rising institutional interest, including an alleged $154 million XRP exposure by Goldman Sachs.
Schectman manages risk through a pyramid-style portfolio allocation. The base (wealth preservation) consists of stable assets like real estate and physical gold. The middle layer holds income-generating investments. The top 10% is reserved for high-risk, high-reward assets like mining stocks and cryptocurrencies, including XRP. This structure aims to protect the core portfolio while allowing for significant gains from speculative bets.
Despite seeing the "wisdom" and "logic" in cryptocurrency, Schectman admitted the concept "freaks me out." He emphasized a balanced approach, viewing gold as a stable "grandfather" asset and crypto like XRP as a promising but uncertain newcomer. His stance underscores a growing narrative of calculated institutional curiosity rather than wholesale endorsement.
Separately, attention has turned to Ripple's activities, with reports indicating the company has sold nearly 20 billion XRP since 2020 as part of its operational strategy to fund ecosystem growth. Notably, the XRP price has increased multiple times over the same period, leading to discussions about supply dynamics and sustained demand.
