Seagate shares rose 12% after the investment in Ripple

Seagate shares rose 12% after the investment in Ripple

Stock hard drives Seagate rose to 12% after it was reported that the company may hold tokens Ripple (XRP) is worth several billion dollars.

Seagate is most known for producing hard drives, offering storage solutions for a wide range of consumers. However, according to recently obtained information, the company may soon become known as an early investor in Ripple (XRP).

XRP, also known as Ripple, is currently in third place in the ranking of cryptocurrency, with a market capitalization of $ 90 billion. Ripple owns 61% of the 100 million coins XRP.

The price of Seagate shares rose after the appearance of the report, Seeking Alpha, which assumes that Seagate owns approximately 4% of the shares of the Ripple and its XRP reserves. If this were true, it would mean that Seagate owns the cryptocurrency amounting to more than $ 7 billion.

See also Forecast the price of Ripple to 2018 (updated version)

Seagate has managed to ensure a share of investing in the series A round in 2014, the size of the investment totaled $ 26 million, and again in Serie B in 2016, the investments will amount to $ 55 million.

After the publication of the report shares of Seagate rose quickly by about 12%. Seagate is in the list of early investors in the website of Ripple, although, until recently, nothing was known about either the company’s interests in the project, not on the size of possible investments.

None of the companies has not yet confirmed this information.

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