u.today
Ripple CEO Brad Garlinghouse recently predicted that the total cryptocurrency market cap could potentially top $5 trillion in 2025, CNBC reports.
Garlinghouse claims that he is "very optimistic" about the current state of the industry.
The Ripple boss sees the advent of Bitcoin exchange-traded funds (ETFs) as one of the key tailwinds pushing the prices higher. Garlinghouse has noted that the industry is attracting "real institutional money" for the first time.
As reported by U.Today, Garlinghouse said that the significance of the SEC approving multiple Bitcoin ETFs could not be overstated since it further legitimized crypto as an asset class. The Ripple CEO predicted that it would be "yet another catalyst" for institutional adoption.
Following their debut in early January, Bitcoin ETFs turned out to be a stunning success, breaking multiple records. In March alone, these products managed to record a staggering $111 in trading volume.
In addition, Garlinghouse has also predicted that the Bitcoin halving could be yet another catalyst for the crypto industry. As reported by U.Today, some analysts believe that a supply shock coupled with growing demand could push the flagship cryptocurrency into "uncharted territory."
Finally, the Ripple boss cited favorable micro-financial conditions as one of the key factors potentially influencing the direction of the crypto market.
Meanwhile, the Ripple-affiliated XRP cryptocurrency is in seventh place by market capitalization.
As reported by U.Today, Garlinghouse recently slammed cryptocurrency news outlet Coindesk for suggesting that Ripple was preparing to ditch XRP with the launch of its new stablecoin.