This means that only about 14% of the proposed $1 billion XRP treasury will be bought from the open market. The rest will be sourced as XRP by other parties. This interpretation quickly spread among XRP holders who feared that Evernorth’s market impact might be far less significant than originally believed.
Morgan clarified that SBI Holdings’ $200 million investment was entirely in cash and would be used specifically for open-market purchases once the deal closes. This makes a guaranteed minimum of 20% of the treasury that’s going to be bought from the open market, which is more than the 14% number noted by ScamDetective.
A $1 billion allocation to the treasury would translate to roughly 415 million to 420 million XRP tokens based on its current trading range. However, until the SEC filings and post-merger financials are released, the exact amount of the altcoin Evernorth will buy is only an estimate.
The treasury would be another positive institutional milestone for the altcoin. At the time of writing, the token’s price is trading at $2.41.
