Ripple CEO’s Forecast for Crypto Market to Double by 2024

Brad Garlinghouse, the CEO of Ripple Labs, is optimistic about the potential impact of spot Bitcoin ETFs on the cryptocurrency market. In an interview with CNBC, Brad Garlinghouse highlighted the significance of these ETFs in driving demand and interest in the crypto space. He also pointed out the positive effects that the upcoming halving event is likely to have on the industry.

As Garlinghouse elaborated, the combination of increasing demand for crypto assets and decreasing supply sets the stage for higher values and continued growth. He emphasized this by stating, “That doesn’t take an economics major to tell you what happens when supply contracts and demand expands.”

Institutional Money and Regulatory Clarity

The CEO of Ripple Labs voiced faith in the ability of bitcoin exchange-traded funds (ETFs) to draw “real institutional money” into the market. He emphasized how important these investments are to the integration of crypto assets into conventional finance (tradfi), which confirms their status as a respectable financial tool.

Garlinghouse also talked about how crucial it is to have a precise legal framework for the cryptocurrency sector, especially in the US. He expects regulatory attitudes regarding digital assets to change in the run-up to the presidential elections. Garlinghouse hypothesized that future administrations could be more favorable to the bitcoin industry than the one they are in.

Garlinghouse acknowledged the regulatory obstacles that Ripple has had to overcome, especially in light of its continuing legal dispute with the U.S. Securities and Exchange Commission (SEC). He also emphasized the administration’s hostile attitude toward cryptocurrencies. He cited Ripple’s ongoing legal battle with the SEC, which resulted in the agency requesting $2 billion from the business in March 2023.

In spite of these obstacles, Garlinghouse is unwavering in his conviction that cryptocurrencies have the ability to revolutionize the financial industry and will play a significant part in it.