Ripple CEO Brad Garlinghouse expressed an ambitious view about the future of the cryptocurrency market in his new interview with CNBC. In particular, his prediction that the total value of the crypto market will exceed $5 trillion by the end of this year has been widely featured in the community.
As Koinfinans.com reported, the current value of the global cryptocurrency market has exceeded 2.58 trillion dollars. Garlinghouse’s forecast predicts that the market will double in size over the next eight months.
Among the factors supporting Garlinghouse’s ambitious view, new institutional participation stands out, especially with Bitcoin ETFs. Additionally, the BTC halving event that will take place within the next two weeks also supports this optimism.
Ripple CEO Brad Garlinghouse“I have been in this industry for a long time and have seen these types of trends happen in the past,” he said. He also emphasized that crypto ETFs are attracting institutional investors for the first time, resulting in a surge in demand for Bitcoin. In March, Bitcoin miners produced approximately 28,500 BTC, while Bitcoin spot ETFs were reported to consume over 66 thousand BTC tokens.
“It doesn’t take an economics expert to tell you what happens when supply contracts and demand expands,” Garlinghouse added. In this context, he claimed that the crypto market could easily double in value amid new trends.
Garlinghouse also emphasized that this year “is going to be big” in early 2024. This bold statement XRP‘s optimism about the outlook increased.
LFG! 2024 is going to be big. https://t.co/3CcCQNo4D9
— Brad Garlinghouse (@bgarlinghouse) January 16, 2024
Similar to Ripple CEO, Garlinghouse’s latest prediction of a $5 trillion market has reignited confidence within the XRP community. Luke Thomas, an avid XRP advocate, stated that in the seven years he has been monitoring the company, he has never seen Garlinghouse present market indicators so clearly.
Thomas believes that Garlinghouse’s latest statement shows that there are important developments on the horizon for the cryptocurrency world, especially Ripple and XRP.
In all my seven years of monitoring @RippleI’ve never witnessed @bgarlinghouse explicitly providing market indicators. It seems there are significant developments on the horizon for Cryptoland, especially for #Ripple oath #XRP!https://t.co/JIaFjiyUta
— Luke Thomas (@DEarthshaker) April 8, 2024
Indeed, Ripple is showing signs of moving towards this projection, as it recently announced plans to launch a USD stablecoin on the XRP Ledger before the end of the year.
Source : The Crypto Basic