Ripple CEO Brad Garlinghouse believes a surge in institutional investments will double the cryptocurrency market’s value to $5 trillion by the end of 2024.
Regulatory Momentum and ETFs
Garlinghouse points to positive regulatory developments and the approval of spot Bitcoin exchange-traded funds (ETFs) as key drivers of this growth. These factors have attracted institutional investors for the first time, leading to increased demand and a decrease in supply.
Economic Principles
According to Garlinghouse, these market dynamics will inevitably lead to higher prices. “When supply contracts and demand expands, it doesn’t take an economics major to tell you what happens,” he said.
US Regulatory Clarity
Garlinghouse also predicts greater regulatory clarity in the US crypto sector this year. He believes the US, despite being the world’s largest economy, has been hostile to cryptocurrencies, but this is expected to change.
