Brad Garlinghouse Expects Crypto Market Cap to Double This Year
Brad Garlinghouse, CEO of Ripple, expressed his optimism about the crypto market’s potential to double its market capitalization this year.
In an interview with CNBC, he highlighted the impact of macro trends like the introduction of spot bitcoin exchange-traded funds (ETFs), which are attracting institutional investment into the crypto space. Garlinghouse emphasized the significant role of ETFs in bringing real institutional money into the market for the first time.
He also pointed out factors such as the upcoming Bitcoin halving and decreasing supply, coupled with increasing demand, as drivers of crypto market growth. With the current total crypto market capitalization at around $2.7 trillion, Garlinghouse predicts it could easily surpass $5 trillion by the end of the year. Additionally, he anticipates positive regulatory developments in the United States, which could further support market expansion, especially given the country’s status as the world’s largest economy.
Clever Robot News Desk 10th April 2024
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