VivoPower Is Accumulating XRP Exposure At 84% Off: Here’s How

VivoPower International’s evolving “digital asset treasury” blueprint took center stage in New York this week as Adam Traidman, the company’s Chairman of the Board of Advisors and a former Ripple board member, sketched out what he called a “DAT 2.0” or “anti-DAT” playbook to accumulate XRP at a steep discount while simultaneously extracting on-chain yield.

Speaking at the XRP Meetup NYC in the run-up to Ripple’s Swell conference—and in remarks shared via a clip by Crypto Eri (@sentosumosaba) on X—Traidman argued that the publicly listed “digital asset treasury companies” which ran hot earlier this year are now trading like the investment-trust boom-and-bust of the early 2000s.

“In the last 60 days or so, we’ve seen several and many, actually, of the digital asset treasury companies collapse. A lot of the stocks have been down by 80%, 90%. This is reminiscent of what we saw in the early 2000s… Initially, they traded at much higher to their net asset value. And eventually, they collapsed completely. And those companies are not publicly traded anymore. To be totally honest, the same thing is happening with DAT companies right now.”

The XRP Treasury Company 2.0

The response, he said, is a second-generation construct that acquires underlying exposure at a discount instead of paying token spot. “What we are doing at VivoPower, and what I think the future is, is this sort of second generation of DATs. I call it a DAT 2.0 strategy. Some folk call it an anti-DAT strategy, which is, instead of buying the net asset at spot price, you buy the net asset at a massive discount.”

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He used Bitcoin to illustrate how unusual an “80% off” entry actually is—mining might lower unit cost by 20–30%, but not by 80%. “How would you buy Bitcoin at an 80% discount today? You can’t… You might mine it… and then you might be able to get it at a 20%, 30% discount by mining it… But how the hell are you going to get it for 80% off?”

The answer, in VivoPower’s case, is tied to Ripple. As Traidman put it, there is a unique linkage between a private company and the crypto asset that enables discount capture through corporate financing structures rather than on-exchange purchases. “There’s 25 million cryptocurrencies on coinmarketcap.com. There’s only one that is tied to a private company that is severely undervalued in terms of its share price, and that’s XRP, because of Ripple, right? And so that’s the opportunity that we are taking advantage of.”

This is the core ordering of operations in his remarks: first, acquire XRP exposure at a claimed “84% off” via mechanisms that revolve around Ripple’s equity and related look-through economics; second, put the resulting XRP to work on yield networks. Flare sits explicitly in the second step. “And then we work with our partners, like Flare, in order to generate yield on those XRP assets. And so that’s essentially buying XRP basically 84% off, and then investing it onto networks like Flare in order to generate a yield.”

By emphasizing the sequencing—discounted acquisition tied to Ripple first, yield generation on Flare second—Traidman also addressed why this model does not rely on the market assigning a premium to the operating company. “So it’s like a DAT 1.0 plus the 2.0 strategy, right? And so the companies in this model don’t even need to trade at a premium to MNAV, like Saylor’s MicroStrategy does, because by default, they’re making money on day one. T plus one second, every dollar that gets put into our company gets a forex return, right? That’s only available when you can buy the net asset at a discount.”

At press time, XRP traded at $2.44.