Ripple CEO expects crypto market to double by end of 2024

Ripple Labs CEO Brad Garlinghouse believes that spot Bitcoin ETFs will drive cryptocurrency demand and interest.

According to CNBC, Garlinghouse also said the upcoming halving will have a positive impact on the crypto industry. Demand for crypto assets continues to increase while supply continues to decrease, encouraging higher values and further development, the Ripple Labs CEO admitted.

“That doesn’t take an economics major to tell you what happens when supply contracts and demand expands.”

Brad Garlinghouse, Ripple Labs CEO

Garlinghouse is confident that the launch of cryptocurrency ETFs has led to the emergence of “real institutional money” in the industry. He emphasized that these investments contribute to further introducing crypto assets into tradfi and strengthen their role as a financial instrument.

The CEO paid particular attention to developing a regulatory framework for the industry in the United States. He said that the country’s presidential elections could lead to significant changes in the highest echelons of power. The businessman claimed that the current administration will be replaced by people ready to support the field of digital assets.

Garlinghouse noted that the current U.S. administration, represented by the SEC, has demonstrated a negative attitude toward cryptocurrencies. At the same time, Ripple is in an active phase of legal confrontation with the American regulator, represented by the Commission. In March 2023, the agency demanded $2 billion from the firm.