The CEO of Ripple (XRP) says that the capitalization of cryptocurrencies will double by the end of the year Brad Garlinghouse, the CEO of Ripple (XRP), was very “bullish” regarding the year 2024. He indeed affirms that the capitalization of cryptocurrencies will double. A likely scenario?
Brad Garlinghouse spoke during an interview with our colleagues at CNBC. Ripple's CEO is particularly optimistic about the effects of the Bitcoin halving , which will take place in less than two weeks. He also notes the already notable effects of the arrival of spot Bitcoin ETFs:
“ I am very optimistic. I think macro trends, meaning things like ETFs, are attracting real institutional money for the first time . »
Regarding halving, the establishment of an imbalance between supply and demand will mechanically push prices upwards , according to Brad Garlinghouse:
“ We see that this leads to more demand, and at the same time […] supply is reduced. […] You don't need to be an economics student to understand what's coming next . »
A market cap that will double in 2024?
Hence a very optimistic conclusion from the CEO of Ripple: the prices of cryptocurrencies will jump and the total capitalization “ will double by the end of the year ” . Currently, the market cap for crypto assets stands at $2.7 trillion. According to Brad Garlinghouse, it could therefore reach $5.4 trillion by December 2024.
The CEO of Ripple is not the only one to be particularly optimistic for the end of the year. For the Standard Chartered bank, the price of BTC could reach $150,000 this year . Furthermore, billionaire Mark Cuban also affirmed that demand would exceed supply:
“ The more people buy it, the fewer people sell it, the more the price will increase. It's his nature. This is a very good store of value . »
With the halving in two weeks, and a Bitcoin price which has continued to flirt with $70,000 in recent days
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