Brad Garlinghouse, the Ripple CEO, argues that the crypto industry could witness an unimaginable upside when real institutional money flows from the U.S. economy.
Garlinghouse voiced this during his appearance at the 2024 Consensus conference. He was asked to offer his perspective on the crypto industry’s trajectory over the next ten years. He began by lamenting the U.S.’s current market position amid unfavorable moves against crypto firms.
Specifically, Garlinghouse highlighted that the U.S. falls into the lowest tenth regarding clear regulatory frameworks globally. He finds this paradoxical, considering that the U.S. is recognized as having the world’s leading economy.
Notably, other jurisdictions like Hong Kong, UAE, Singapore, and Europe have made considerable strides in establishing crypto regulations, catalyzing innovation within the crypto sector.
When Real U.S. Institutional Money Enters Crypto
In parallel, Garlinghouse contended that if the U.S. economy truly opened its doors, allowing substantial institutional investments to pour into the crypto market, the scale of potential growth would be almost beyond prediction. In his words:
“I think when you get the real unlock of the United States economy with the real institutional money flowing in, it’s just hard to predict some of the upside opportunity.”
Widely followed community figure KING VALEX recently spotlighted Garlinghouse’s statement.
RIPPLE CEO : TELLING ABOUT 𝐔𝐏𝐒𝐈𝐃𝐄 OPPORTUNITY.
“WHEN 𝐈𝐍𝐒𝐓𝐈𝐓𝐔𝐓𝐈𝐎𝐍𝐀𝐋 𝐌𝐎𝐍𝐄𝐘 𝐂𝐎𝐌𝐄𝐒 𝐈𝐍 it’s HARD TO PREDICT HOW THE 𝐔𝐏𝐒𝐈𝐃𝐄 will BE“
99% in this space can’t even 𝐀𝐅𝐅𝐎𝐑𝐃 TO LAST for when that 𝐓𝐇𝐀𝐓 𝐇𝐀𝐏𝐏𝐄𝐍𝐒. #crypto $XRP pic.twitter.com/5YJmSYtUgr
— KINGVALEX (@VALELORDX) June 10, 2024
Public U.S. Institutions Investing in Crypto
According to information from Bitcoin Treasuries, several U.S.-based public institutions are currently investing in Bitcoin. MicroStrategy, Marathon Digital Holdings, Tesla, and Coinbase Global are among the most prominent entities. For instance, MicroStrategy alone boasts a Bitcoin portfolio exceeding $14 billion.
In the ETF scene, the leading funds include BlackRock, which holds over $21 billion in Bitcoin, and Grayscale, with holdings exceeding $19.8 billion. Other U.S.-based ETFs collectively hold Bitcoin valued at over $20 billion.
Now, the crypto industry boasts a market worth over $2.53 trillion amid these involvements from the U.S. Ripple’s CEO believes the value would be unimaginable in years to come.
Ripple CEO Says $5 Trillion Possible This Year
Meanwhile, in an earlier interview, Garlinghouse forecasted a bold $5 trillion valuation by year-end. Interestingly, he stated that the $5 trillion estimate is not overly ambitious when considering the wider financial landscape.
Garlinghouse cited the decreasing supply of Bitcoin following its recent halving event and the increased demand driven by the ETFs.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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