Ripple, which is not short of money, plans to go public in the next 12 months, and the XRP community is disappointed with this

Ripple CEO Brad Garlinghouse said the company could go public within the next 12 months.

Gold coin of Ripple falls to the ground from space.

Speaking to the Wall Street Journal during a speech at the World Economic Forum in Davos on Thursday, Garinghouse said the initial public offering (IPO) was a "natural evolution" for the company.

"In the next 12 months, you will see an IPO in the crypto / blockchain space. We are not going to be the first and not the last, but I hope we are leading the way … this is for us It's a natural progression for the company, "he said.

Just last month, Ripple raised up to $ 200 million in Series C funding, which is usually the last step before the company goes public. The round C financing valued the blockchain payment company at $ 10 billion.

According to Crunchbase, Ripple has raised $ 293.6 million in funding to date. It remains to be seen what Ripple ultimately raised through the IPO.

Earlier this week, Ripple reported sales of its token Ripple (XRP) for the fourth quarter, which fell by 80%. The company sold a total of $ 13.08 million in XRP in the fourth quarter, compared to $ 66.24 million in the previous quarter. According to research by The Block, the fourth quarter sales figures were the lowest in the past three years, and the price of XRP also dropped 22% in the fourth quarter.

According to research by The Block, Ripple has so far sold a total of $ 1.22 billion worth of XRP.

Cryptocurrency communities have reacted differently to the news that Ripple is planning to go public. Well-known XRP and Ripple commentator GreenEggsnHam tweeted that he was disappointed to hear the news. He specifically mentioned the fact that Ripple has "$ 500 million in cash and billions of dollars in XRP escrow funds", suggesting that the company does not need to raise funds in the open market. "This is just a wealth transfer mechanism, and I find it very disgusting. Ripple has no reason to be a public company-they don't need capital." Its comments received hundreds of likes from others in the crypto community. Some commentators believe that XRP is virtually useless after the IPO and will only turn early investors into billionaires.

On the other hand, cryptocurrency trader Credible Crypto shared an article by Ripple community member Hodor, which explained the potential impact of an IPO on Ripple itself. By analyzing the IPO data of Uber, Facebook, Visa and other fintech companies, Hodor reckons that Ripple may be able to raise $ 5 billion in funds through the IPO. "Usually, the inflow of funds from the IPO will be used by the company to expand and achieve more than other Higher levels of growth. ”Hodor believes that if his calculations for this multi-billion dollar IPO are correct, the company can conclude large business deals, launch strong marketing campaigns, and acquire many companies to help drive The adoption of its technology.