While the future of cryptocurrencies continues to be a topic of discussion all over the world, today an important statement came from the name behind one of the most popular crypto money projects. Ripple CEO Brad Garlinghouse answered CNBC’s questions at the Paris Blockchain Week event.
In his statement, Garlinghouse made statements about Bitcoin’s status among cryptocurrencies, the US Securities and Exchange Association’s (SEC) views on Ethereum, the Biden administration’s approach to cryptocurrencies and, of course, the future of cryptocurrencies. These explanations were as follows:
Bitcoin digital gold, Ripple (XRP) payment option
Ripple CEO, the unit of their project, XRP extremely fast and explained that they use it to provide reliable payments. Noting that the transaction cost is low, the CEO stated that the usage area of Bitcoin is very good in terms of being ‘digital gold’, but the fees are expensive and the speed is slow in terms of payment.
SEC unable to answer on Ethereum:
Referring to the lawsuit between Ripple and SEC, Gingerhouse said whether XRP is a security and whether Ripple is selling XRP unregistered is the main question to be asked. He emphasized that the laws in the USA are not clear on this issue. The CEO stated that the SEC could not answer the question of whether Ethereum is also a security.
The Biden administration saw the backwardness of the USA in the industry:
Gingerhouse stated that Joe Biden’s presidential decree is positive and important for the market, explaining that many countries are ahead of the United States in cryptocurrency regulations. He said he believes the Biden administration is aware of this situation.
The future of cryptocurrencies:
“I must say clearly that I think positively for all crypto money markets. There are macro factors that make me think this way. The first of these is global inflation. You know, inflation in the USA was 8.5%. This is the record for 40 years. The other factor is that cryptocurrencies solve many of the problems of corporate companies. Solving real problems. That’s why I have a serious positive outlook.”
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