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.