Ripple CEO Brad Garlinghouse said he expects the entire value of the crypto market to double this year, citing the arrival of the first U.S. spot bitcoin exchange-traded fund and upcoming so-called bitcoin "halving."
Brad Garlinghouse, CEO of Ripple, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2022.The CEO of blockchain startup Ripple sees the combined market capitalization of the cryptocurrency market topping $5 trillion this year. "You're seeing that drives demand, and at the same time demand is increasing, supply is decreasing," Garlinghouse said. "That doesn't take an economics major to tell you what happens when supply contracts and demand expands."were approved on Jan. 10 by the U.S. Securities and Exchange Commission. They trade on U.S. stock exchanges and allow institutions and retail investors to gain exposure to bitcoin without directly owning the underlying asset.
This year being an election year, crypto hopefuls are optimistic that the next administration will be more accommodating to the crypto industry with its policy focus. "One of the things actually I'll say on the macro tailwinds for the industry: I think we will get more clarity in the United States," Garlinghouse said.