Hyperscale Data Inc. has stated that its subsidiary, Ault Capital Group (ACG), intends to acquire up to $10 million in XRP, the crypto designed by Ripple Labs. The acquisition should be accomplished by the end of 2025.
This action is a part of ACG’s strategy to grow its crypto-based financial services. Although ACG is presently specializing in lending, it now wishes to venture into blockchain-driven solutions such as decentralized finance (DeFi), tokenization of real-world assets, and real-time payments. XRP’s speedy and cheap transactions make it well-suited to these new services.
This move marks Hyperscale Data’s intention to be an even larger participant in the financial services sector by leveraging crypto as part of its expansion strategy. Per the press release, the acquired XRP will appear on the firm’s balance sheet at fair value, and changes in price will be booked through its operating expenses.
As Executive Chairman Milton “Todd” Ault III described, ACG will continue beyond its existing lending business into new frontiers like cryptocurrency-based products, decentralized exchanges, and tokenized real-world assets. XRP, he said, is to be a major player in this future growth.
While Wall Street experts are very bullish on Hyperscale Data’s stock (GPUS). They have projected a target price of $41,250 per share, against its current value of a mere $5.63, a possible growth of over 730,000%. The stock also carries an “Outperform” rating, which implies that it will outperform the majority of the stocks in the market.
Hyperscale adds that the XRP buy could be at risk of market volatility, capital availability, or regulatory hurdles. The firm will watch conditions and modify its buying plans accordingly.
Also Read: Can XRP Price Mirror Apple’s 50000% Surge Since 2005?
