Brad Garlinghouse Raises Crypto Market Cap Forecast Above $5 Trillion as Ripple Eyes Growth

• Garlinghouse raises crypto market cap forecast above $5 trillion, citing Bitcoin ETF approval and halving as key drivers.
• Ripple’s RLUSD stablecoin launch aims to bridge traditional finance and crypto, addressing rising global stablecoin demand.
• Global crypto innovation accelerates as Dubai, Singapore, and the EU adopt favorable regulations, leaving the U.S. behind.

Brad Garlinghouse, CEO of Ripple, has raised his earlier prediction of a $5 trillion crypto market cap by year-end. Speaking on recent market trends, Garlinghouse highlighted developments like the Bitcoin ETF approval and the last Bitcoin halving, both contributing to increased demand and shrinking supply. While crypto markets have shown volatility, Garlinghouse remains confident that the sector’s growth will exceed expectations by the end of the year.

Crypto Surge Driven by ETFs and Bitcoin Halving

In recent months, Bitcoin has surged by over 250%, with ups and downs caused by various factors. Garlinghouse noted the importance of the early this year approved Bitcoin ETFs, which have brought a new wave of institutional interest. 

He emphasized how the ETFs, combined with the last Bitcoin halving, are reducing the available supply while increasing demand. This, in turn, is pushing market growth. With Bitcoin and other cryptocurrencies gaining traction, Garlinghouse’s revised prediction seems more plausible.

Regulatory Challenges and Global Growth in Crypto

Garlinghouse addressed the U.S. government’s stance on crypto regulation, pointing out the barriers that hinder market expansion. He mentioned how other regions like Dubai, Singapore, and the EU have embraced regulatory frameworks that foster innovation. 

In contrast, the U.S. lags due to stricter policies, particularly those from the SEC. Despite these challenges, Garlinghouse believes that clear regulation could benefit the U.S. crypto market, potentially spurring innovation and economic growth.

Ripple’s Stablecoin Plans and Non-U.S. Market Focus

Ripple recently announced plans to launch a U.S. dollar-backed stablecoin, RLUSD, aimed at bridging the gap between traditional finance and cryptocurrency. According to Garlinghouse, over 95% of Ripple’s customers are non-U.S. financial institutions, and the company’s infrastructure aims to support global growth. 

He also highlighted the growing demand for stablecoins, projecting the market to grow from $150 billion to over $2 trillion in the coming years. As stablecoin legislation progresses in the U.S., Ripple sees itself positioned to play a pivotal role.