In a recent interview on FOX Business with Maria Bartiromo, Ripple CEO Brad Garlinghouse discussed the future plans of the company and their significance for XRP. When asked about his optimistic outlook on the crypto market potentially reaching $5 trillion by the end of the year, Garlinghouse stressed that this projection is not particularly ambitious. He highlighted the decreasing supply of Bitcoin, especially with the upcoming Bitcoin halving, and the increasing demand for Bitcoin through exchange-traded funds (ETFs) as factors contributing to the growth of the market.
Garlinghouse also expressed his belief that clearer U.S. regulatory laws would further boost the crypto market. He emphasized the historical importance of strong U.S. regulation in fostering the growth of the nation’s economy and acknowledged that existing laws have been problematic for the crypto industry. He mentioned how crypto innovators and entrepreneurs have chosen to relocate to countries like Dubai, Singapore, and the U.K. with more favorable regulations. Garlinghouse called for the U.S. to adopt a pro-innovation and pro-compliance stance towards crypto, noting the potential for job creation and economic growth in the blockchain industry.
Regarding Ripple’s growth trajectory, Garlinghouse mentioned that over 95% of their customers are financial institutions outside the U.S. He highlighted Ripple’s role in providing payment and custody solutions to these institutions and expressed the company’s intention to continue expanding despite the slow adoption in the U.S. market. He also emphasized the opportunity for Ripple to become a dominant infrastructure provider for the crypto market, which would have positive implications for Ripple and XRP, the digital asset utilized for payment solutions.
In conclusion, Garlinghouse expressed his optimism about the future, stating that the opportunity for Ripple and XRP is huge in the crypto market. He believes that transparent regulations will enable industry participants to operate and expand with confidence.
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