Ripple’s Brad Garlinghouse Talks About Bitcoin and XRP, Claims BTC Won’t Drop to Zero
On January 23rd, Brad Garlinghouse spoke on the World Economic Forum in Devos in a panel on cryptocurrencies hosted by CNBC.
The CEO of Ripple discussed the adoption of cryptocurrency and the adoption of blockchain technology as a way of “rewiring” the current financial infrastructure, also talking about Bitcoin, Ripple’s crypto baby XRP and the utilization of digital assets in the future scenario of improved finances, banking systems, and various sectors and industries.
Moreover, Brad Garlinghouse emphasized the ability of DLT to cut trillions of dollars used for cross-border transfers expenses, claiming that blockchain would be able to find a better use for trillions of dollars pre-funded to the banks for remittance services.
“I’m Not Prepared to Say Bitcoin Goes to Zero,” Brad Garlinghouse Claims
While many experts from the world of investments, technology, and finances claim that Bitcoin is a bursting bubble, also proclaiming Bitcoin dead more than just several times, Brad Garlinghouse, the CEO of Ripple seems to disagree with these predictions.
Talking about how crypto and blockchain can change the way we interact with finances, also emphasizing that the technology behind Bitcoin and crypto may succeed in improving operations under industrial, financial and social relations, Garlinghouse stated that he still owns Bitcoin and that he is not ready to say that BTC might go to zero.
Disagreeing with the theory of Bitcoin’s demise, Garlinghouse added further that he believes that BTC would be look upon as the digital store of value in the future rather than as currency, which is the reason he is still holding BTC in the first place, according to Garlinghouse’ statement for CNBC.
The CEO of Ripple also used the opportunity to say that there is a chance to “fundamentally rewire” the financial infrastructure as we know it by taking advantage of liquidity that comes with utilization of cryptocurrency.
Garlinghouse also added that around 10 trillion dollars used for pre-funding in order to enable remittance payments could be redirected to other purposes where this money would be of great use for society.
XRP is Providing Liquidity, Fast Payments and Scalability
Although Garlinghouse claims he sees a bright future for Bitcoin, predicting that the top crypto won’t get to touch zero value, Ripple’s CEO claims that Bitcoin lacks scalability and low cost, which is why he believes BTC is more likely to be viewed as a store of digital value.
However, he emphasized that XRP on the other hand offers enhanced scalability, fast validation for payments and low costs, which can ultimately change the way we are operating with monetary value and finances in the future.
Brad Garlinghouse also spoke about the case of having many people correlating crypto with illicit activities, which is described as a lack of cultural development of cryptocurrency.
He added that he is not only referring to regulators who are restricting the utilization of cryptocurrency, although the majority of countries is pushing the adoption of blockchain technology.
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