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Ripple Chief Predicts Dramatic Crypto Market Transformation in 2020, Says World Doesn’t Need 2,000 Digital Assets

by Daily Hodl Staff
December 23, 2019
in Altcoins, Ripple and XRP

Ripple CEO Brad Garlinghouse is dropping a set of bold predictions for the new year.

In roundup on what may come in the year ahead, the head of the Silicon Valley payments company, which owns more than half of the total supply of XRP, says he believes the crypto market at large is set to shrink.

Garlinghouse says a long list of digital assets will likely fall by the wayside as the market searches for utility and real-world use cases.

“The world doesn’t need 2000+ digital assets. While I don’t think there will be one coin to rule them all, it’s clear that if an asset doesn’t have a proven use case beyond speculation, it is not going to survive.”

He also predicts increasing consolidation among crypto companies as bigger fish acquire smaller startups in the space.

Last month, Garlinghouse told Bloomberg he thinks the value of nearly all cryptocurrencies on the market will eventually become worthless.

“I have said publicly before that I think 99% of all crypto probably goes to zero.

But there is that 1% that I think is focused on solving a real problem for real customers and is able to do that at scale.”

Garlinghouse is also making two extremely bold predictions about institutional adoption of digital assets in the new year.

He expects that 10 of the 20 largest banks on the globe will begin to “actively hold and trade digital assets in 2020” as fiat currencies go digital.

He’s also predicting that at least one G20 currency becomes “fully digitized” by 2021.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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