During a recent interview With Fox Business, Ripple CEO Brad Garlinghouse said his bullish prediction of the crypto market reaching $5 trillion might be too conservative.
“If anything, I think I probably underestimated that,” he said while speaking with Fox Business host Maria Bartiromo.
Even though the price of Bitcoin has seen a dramatic decline over the past week, the Ripple boss is confident that it will continue to benefit from tailwinds due to the rise of exchange-traded funds (ETFs) and Upcoming Halving Event:
“I think tailwinds will continue to occur. Partly because of the ETFs that have been approved… But also the upcoming halving, which is imminent,” added the Ripple boss.
As reported by U.Today, Garlinghouse recently told CNBC that the ETF market could reach $5 trillion by the end of this year. During his latest interview, Garlinghouse further explained the reason behind this bullish forecast: “Like any market, this one is driven by supply and demand. You have decreasing supply for a whole host of reasons…you have increasing demand (ETF being a key one). part of that). I think it's also people realizing that crypto plays a role as an asset.
During the interview, he also criticized Senator Elizabeth Warren for claiming that only bad actors use cryptocurrencies. “That’s just not true,” he said. He says the United States should have a “pro-innovation” and “pro-compliance” cryptocurrency policy. “This shouldn’t even be a partisan issue,” he said.
At the same time, he believes that Rippe’s new stablecoin project will be “great” for XRP after fend off the skeptics who claimed the company was abandoning the controversial cryptocurrency.