Ripple CEO Brad Garlinghouse Belives Current Global Economy Will Place Bitcoin At Top Position

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • Recently, the CEO of Ripple, Brad Garlinghouse stated that the present financial breakdown is placing Bitcoin and the entire crypto ecosystem at the top level of the global economy.
  • The CEO pointed out that Bitcoin is created for a financial crisis.
  • Several companies that have a cash-centric business have faced a decrease of 30% to 40%. But, those who have adopted digital currencies had gained 80% to 100% in their business.

Recently, the CEO of Ripple, Brad Garlinghouse stated that the present financial breakdown is placing Bitcoin and the entire crypto ecosystem at the top level of the global economy. Garlinghouse at his recent virtual meeting said that currently, the US stimulus stands at $3 trillion.

Bitcoin is created for a financial crisis

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However, it is expected to grow in the near future to prevent the “macro-economic calamity”. The CEO pointed out that Bitcoin is created for a financial crisis. While looking at its current situation, BTC is working well.

He added that crypto is a digital alternative of gold. Further, he finds that entire crypto market will benefit from the current global economic crunch. Moreover, it is the same as the gold did in the 2008 financial crisis.

The Ripple CEO is bullish on BTC as a store of value

Besides this, Garlinghouse testified many times that he finds Bitcoin bullish as a store of value. Along with the speed and competence of XRP that makes it a significant asset for payments.

Several companies that have a cash-centric business have faced a decrease of 30% to 40%. But those who have adopted digital currencies had gained 80% to 100% in their business.

In recent times, certain crypto- speculators shared their opinion about Bitcoin’s price in 2020. According to the CEO of Binance, Changpeng “CZ” Zhao, if investors are looking at Bitcoin for the short term, they will find high volatility. While the longer-term view of BTC the picture will be bigger.

On the other hand, Arthur Hayes, the CEO of BitMEX addressed that if inflation and reserves of the price narrative catch up. Then bitcoin should get higher from its previous times.

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