"It's a different kind of prediction, but it's not impossible, right?"
Brad Garlinghouse, CEO of Ripple (XRP) thinks the cryptocurrency market cap will double to $5 trillion by the end of the year driven by the approval of the Bitcoin (BTC) spot ETF in the United States (US).
Garlinghouse added that he was very optimistic, the macro trend is a big thing like ETFs after it managed to drive real institutional money for the first time where demand is increasing while supply is decreasing.
This is because the rate of new BTC produced will be reduced after the halving event scheduled for April 20, 2024 following the event will lower the reward earned by miners at 3.125 BTC per block.
Despite some regulatory action in the US, Garlinghouse insists that he remains positive about the future of crypto regulation in the country.
It is well known that the Securities and Exchange Commission (SEC) in June 2023 sued the crypto exchanges Coinbase and Binance for listing and trading unregistered securities in the form of various digital assets.
Not only that, the SEC also filed a lawsuit against XRP alleging that it was illegally selling tokens it founded, however the blockchain payment firm vehemently denied the allegations.
Even so, Garlinghouse believes the US will provide more clarity, he commented adding that the country which is still the largest economy in the world is unfortunately hostile to crypto but that may start to change in the near future.
