Ripple chief executive Brad Garlinghouse thinks macro factors could double the overall crypto market cap by the end of 2024.

Garlinghouse told CNBC recently that regulatory momentum and the newly approved spot Bitcoin (BTC) exchange-traded funds (ETFs) could drive a massive surge in crypto prices.

“I’ve been around this industry for a long time, and I’ve seen these trends come and go. I’m very optimistic. I think the macro trends, the big-picture things like the ETFs, they’re driving for the first time real institutional money.

You’re seeing that drives demand, and at the same time demand is increasing, and supply is decreasing. That doesn’t take an economics major to tell you what happens when supply contracts and demand expands.”

Garlinghouse says the overall crypto market cap is “easily predicted to double” by the end of 2024. The current market cap sits at $2.8 trillion but was hovering around $2.6 trillion when the CEO made his comments, according to CoinGecko.

Garlinghouse also predicts the US crypto sector will receive more regulatory clarity this year.

“The US is still the largest economy in the world, and it’s unfortunately been one of the more hostile crypto markets. And I think that’s going to start to change, also.”

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Brad Garlinghouse Predicts Institutional Money Pushes Crypto Market Cap to $5 Trillion in 2024: Report appeared first on The Daily Hodl.

Ripple chief executive Brad Garlinghouse thinks macro factors could double the overall crypto market cap by the end of 2024.

Garlinghouse told CNBC recently that regulatory momentum and the newly approved spot Bitcoin (BTC) exchange-traded funds (ETFs) could drive a massive surge in crypto prices.

“I’ve been around this industry for a long time, and I’ve seen these trends come and go. I’m very optimistic. I think the macro trends, the big-picture things like the ETFs, they’re driving for the first time real institutional money.

You’re seeing that drives demand, and at the same time demand is increasing, and supply is decreasing. That doesn’t take an economics major to tell you what happens when supply contracts and demand expands.”

Garlinghouse says the overall crypto market cap is “easily predicted to double” by the end of 2024. The current market cap sits at $2.8 trillion but was hovering around $2.6 trillion when the CEO made his comments, according to CoinGecko.

Garlinghouse also predicts the US crypto sector will receive more regulatory clarity this year.

“The US is still the largest economy in the world, and it’s unfortunately been one of the more hostile crypto markets. And I think that’s going to start to change, also.”

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

The post Brad Garlinghouse Predicts Institutional Money Pushes Crypto Market Cap to $5 Trillion in 2024: Report appeared first on The Daily Hodl.