According to Brad Garlinghouse, the CEO of Ripple Labs, the introduction of spot Bitcoin Exchange-Traded Funds (ETFs) is expected to increase the desire and market value for Bitcoin.
As reported by CNBC, Garlinghouse expressed optimism about the upcoming bitcoin halving. He noted that as demand for cryptocurrencies grows while supply decreases, this dynamic can lead to increased values and continued advancement within the industry. (Ripple Labs’ CEO’s perspective)
It’s not rocket science or requiring an economics degree to figure out the consequences when supply remains constant while demand increases.
Brad Garlinghouse, Ripple Labs CEO
According to Garlinghouse, the introduction of cryptocurrency ETFs has brought in significant institutional investment to the industry. He highlighted that these investments serve to establish crypto assets within traditional finance and solidify their position as valuable financial tools.
The CEO carefully worked on establishing regulations for the US industry, acknowledging potential shifts in government leadership due to upcoming presidential elections. He expressed belief that the incoming administration would be more receptive to the digital asset sector.
Garlinghouse pointed out that the current US administration, specifically the SEC, has shown a disapproving stance towards cryptocurrencies. Simultaneously, Ripple is engaged in an ongoing legal battle with this regulatory body, referred to as the Commission. In March 2023, the Commission requested $2 billion from the company.
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2024-04-08 17:28