One of the leading crypto-assets in the market Ripple has hired Bloomberg TV’s Cory Johnson as chief market strategist.
According to report, Johnson will be working closely with Ripple CFO Ron Will.
Furthermore, the main job of Johnson will be to explain the company Ripple and the currency XRP to investors.
As of the fourth quarter, Ripple sold $91.6 million worth of XRP.
Ripple, is a payments start-up that holds billions of dollars worth of digital currency XRP, has hired a chief market strategist to tell its complex story to investors.
In an information from CNBC, Bloomberg Television’s Cory Johnson confirmed that he left the news network this week and started at Ripple on Thursday.
Johnson is a former hedge fund manager, Johnson spent eight years at Bloomberg, primarily covering technology on TV and for Bloomberg Radio.
He joins Ripple during a volatile period for the six-year-old company. Ripple is the majority owner of XRP, a digital asset along the lines of bitcoin and ethereum.
While the company’s holdings are currently worth an astonishing $49 billion, the price of XRP has fluctuated wildly this year, reaching a high of $3.84 in January before falling all the way to 83 cents on Thursday.
Ripple’s challenge is to simultaneously build a business selling blockchain-based payments software to financial institutions, while also promoting the use of XRP, which remains a nascent currency.
Also, critics of Ripple claim that its value as a company is built on a digital asset that’s yet to show much utility and has attracted investor money because of the mad rush into cryptocurrencies.
“The role of Ripple as a company and XRP as a currency in financial markets, to regulators, financial institutions and investors could use more explaining,” Johnson said.
“I’m going to try and explain, listen and set strategies to make it easy for Wall Street and the world of finance to understand what we’re doing.”
Johnson, who has spent 20 years in the Bay Area and worked at numerous news organizations, including as a correspondent for CNBC, will be working closely with Ripple’s CFO Ron Will.