No Evidence of Seagate’s or Western Union’s Stake in Ripple

forbes.com

Apparently, many companies have a great interest in Ripple right now. However, there are some potential partnerships that are still a secret. According to Bloomberg’s unconfirmed report, both Western Union and Seagate have a stake in Ripple. Western Union’s supposed stake is not a surprise since the company will benefit from Ripple’s technology. Seagate, however, is an unexpected partner.

Yet, information like this should be taken with a grain of salt. Bloomberg has reported how Western Union and Seagate may have a stake in Ripple. This is all speculation and there is no factual evidence supporting the claim. What is true, however, is the sudden upsurge in company shares when someone implied about a possible connection with the Blockchain company. Why this happened is still a guessing game. This is a clear indication that the Blockchain hype bubble is about to burst any moment from now.

Ripple causes stock price soar

Take note that the two companies never officially confirmed their stake. Nobody knows if Western Union is looking into Ripple’s Blockchain technology. Furthermore, they can use the XRP asset to trim down global remittance fee. In case this truly happens, things will become even more interesting. Such developments are welcomed with excited anticipation. For now, everyone needs to stay put and see if the rumors will turn out to be true.

For its part, connection linking Seagate to Ripple remains unclear. That is until ValueStreet Reseach wrote about it this week. In his so-called “research”, the user found “evidence” of Seagate’s 4% stake in Ripple. As expected, no evidence was given to support the claim. Contributors to major websites should not always be taken seriously, especially if they fail to show evidence to support such claims. No one knows if Seagate invested in Ripple twice, and it is still vague if there is any remaining stake in the Blockchain company.

This only goes to show that anything linked to Blockchain will soar; regardless whether the rumors are true or not. Simply slap the word Blockchain to any company and wait for the magic to happen. This trend has become very worrisome. Because it is a bubble, it will burst pretty soon. When that happens, many people will be jolted back to reality. While Ripple should not be overlooked, it should not have such an effect on stock prices either.