Ripple creators have split and devoloped a new cryptocurrency called stellar, which is similar to ripple and expected to be the next big cryptocurrency, trader Brian Kelly has said.
speaking to CNBC, money manager Mr Kelly said:Stellar is one that is very similar to Ripple. It is created by one of the creators of Ripple.
Effectively the company split and they went out and created stellar. They are already working with IBM they are beginning to deal with them to do cross border payments.
its faster and cheaper than bitcoin and what I mean by that is you can move stuff around faster and it will cost you less than Bitcoin at this point in time.
Moneygram announced in January that it will trial Ripple XRP digital currency, which Mr Kelly said was a watershed event for the industry.
Mt Kelly said stellar is very similar to Ripple and has a deal with IBM but is expected to get bigger margins.
He said the partnership with bank IBM is very important and Stellar is likely to double the Ripple price and reach over a dollar.
But billionaire business mogul Warren buffet warned Bitcoin and other cryptocurrencies are certain to end badly.
speaking to CNBC the CEO of Berkshire hathaway said:in terms of cryptocurrencies generally I can say with almost certainty that they will Come to a bad ending.
Mr buffet said he is unsure when the cryptocurrencies bubble will burst but he is certain it will happen.
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