Is There a Rivalry Between Bitcoin and XRP? Ripple CEO explained

Ripple CEO Brad Garlinghouse comments on whether there is a rivalry between XRP and BTC. He also explained the regulatory concerns.

Ripple CEO Brad Garlinghouse made some important statements about bitcoin and ripple. Saying that BTC dominance is not going anywhere, Garlinghouse underlined that BTC will continue to be an important part of the overall crypto ecosystem. The prominent CEO stated that most people view cryptocurrencies as an inflationary protection.

In an interview with CNN’s Julia Chatterley, Brad Garlinghouse stated that about 95% of Ripple customers are not from the United States. The San Francisco-based company recently announced that they moved their headquarters from the USA due to legal uncertainty.

Only 5% of Ripple customers are from the US

Speaking about the regulatory hurdles for XRP, the CEO expressed his optimism that the Biden government is providing a clear framework for crypto companies to operate in the country. He added that uncertainty is detrimental to companies using XRP.

Ripple CEO reported that some companies have invested 10% of their overall portfolio in cryptocurrencies, while the leading Wall Street firms appreciate their recent investments in cryptocurrencies. It is known that institutional investors have shown a very high interest in the crypto industry, especially in recent months.

“The success of a cryptocurrency depends on it solving payment problems”

Garlinghouse said that the long-term value of cryptocurrencies depends on their ability to solve payment problems.

At Ripple, our focus is on solving problems related to cross-border payments in a cost-effective way.

Garlinghouse outlined the regulatory issues facing Ripple in the US and said they expect clarity from the SEC to make a decision:

95% of our customers are outside the USA. People are asking “why are you a US company?” US companies are waiting for regulatory clarity. Problems mostly arise from the Securities and Exchange Commission.

Garlinghouse underlined that Bitcoin has always been a strong player in the crypto market and there is no rivalry between Ripple and Bitcoin.

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Disclaimer: The information in the content is not an investment advice. Author and coinalways.com are not responsible for your profit or loss. Every investment involves risks and requires knowledge.

Coin Journo
The young talent, who works in various media organizations and reticulate the industry, has carried his experience to the crypto. Co-founder @ Coin Always.

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