Brad Garlinghouse, the CEO of Ripple, believes that the cryptocurrency industry could experience a remarkable surge in value once real institutional money from the United States enters the market. This statement was made by Garlinghouse at the 2024 Consensus conference, where he was asked to share his insights on the future trajectory of the crypto industry.
Garlinghouse expressed his concern about the current regulatory environment in the U.S., noting that the country lags behind other jurisdictions such as Hong Kong, UAE, Singapore, and Europe in terms of clear regulatory frameworks for cryptocurrencies. He found it paradoxical that the U.S., known for having the world’s leading economy, falls short in this aspect.
The Ripple CEO emphasized the potential for growth if the U.S. economy opens up to significant institutional investments in the crypto market. He mentioned that the scale of growth would be difficult to predict once real institutional money starts flowing into the market.
KING VALEX, a well-known figure in the crypto community, recently highlighted Garlinghouse’s remarks. Notably, several U.S.-based public institutions, including MicroStrategy, Marathon Digital Holdings, Tesla, and Coinbase Global, have already invested in Bitcoin, with MicroStrategy alone holding a portfolio exceeding $14 billion.
In the ETF sector, funds like BlackRock and Grayscale hold significant amounts of Bitcoin, contributing to the overall market value of the crypto industry, which currently stands at over $2.53 trillion. Garlinghouse believes that this value could skyrocket in the years to come, potentially reaching $5 trillion by the end of the year.
In a previous interview, Garlinghouse confidently predicted the $5 trillion valuation, attributing it to factors such as the decreasing supply of Bitcoin and the rising demand driven by ETFs. However, readers are advised to conduct thorough research before making any investment decisions, as the views expressed in this article are solely the author’s opinions and do not necessarily reflect The Crypto Basic’s stance.