SBI Holdings Stands Firm on Ripple Investment Amid XRP Price Volatility
SBI Holdings, Japan's financial giant, believes that XRP's recent weakness is due to uncertainty surrounding the U.S. CLARITY Act. According to SBI's Director Yasuo Nishikawa, who presented the company's first-quarter earnings report, XRP's price has been sluggish 'as if waiting to see the outcome of the CLARITY Act.'
The value of SBI's holdings in Ripple remains at 6.6 trillion yen (approximately $45 billion), despite the recent slowdown in XRP's price.
SBI reported record first-quarter earnings, with quarterly profit attributable to shareholders reaching 148.1 billion yen, nearly 2.5 times higher than a year earlier.
The company's private equity business, which includes its investment in Ripple, posted a 328% year-over-year increase in profit to 119.9 billion yen.