The Japanese financial group said investors are waiting on Senate action, while it continues to view XRP as a strategic asset worth 6.6 trillion yen.
SBI Holdings said weakness across the cryptocurrency market, including XRP, reflects investor caution as markets wait for Senate approval of the U.S. CLARITY Act, a bill seen as important for Bitcoin and altcoins. At a recent earnings presentation, SBI Holdings Director Yasuo Nishikawa said investors were closely watching the legislation and that the delay had left the company’s crypto business and token prices stagnant. He said the uncertainty around U.S. crypto rules has weighed on the wider market and on XRP in particular. Nishikawa added that SBI’s long-term confidence in XRP remains unchanged and that the firm holds 6.6 trillion yen ($42.2 billion) worth of the token, which it continues to treat as a strategic asset.