Garlinghouse Shows off Ripple’s Strong Performance in 2020

Garlinghouse Shows off Ripple’s Strong Performance in 2020

Brad Garlinghouse, chief executive of Ripple, has paid attention to his company’s strong performance in 2020.

The platform has showed strong performance since the beginning of 2020, reflecting a larger market recovery.

The CEO’s statement came in response to Mike Novogratz, chief executive of Galaxy Digital, who expected Ripple to show weak performance in 2020.

Novogratz expressed worries about Ripple Lab’s policy of selling a portion of XPR every month may be not for the benefit of investors.

However, Garlinghouse has criticized Novogratz, saying that he had wrongly expected Bitcoin to reach $20,000 at the end of 2019.

“Also…this is the same guy that said bitcoin will go to 20K in 2019 ‾\_(ツ)_/‾  #notNostradamus. He did predict Tom Hanks would win an Oscar for Mr. Rogers – maybe this is the prediction he’ll get right? Personally voting for Brad Pitt though!”

However, Novogratz’s investment bank holds a large share in Ripple Labs at a total value of $27.6 million. Galaxy Digital has acquired most of this share in 2019.

XPR, the world’s third largest cryptocurrency with a market cap of $12.23 billion, rose 2.93% to $0.2803 over the last 24 hours.

Ripple Sees Critical Mass Adoption of XRP

Cryptolydian earlier reported Breanne Madigan, Ripple’s head of global institutional markets, as saying the institutional-grade crypto-asset platform is on the right track to a turning point at the moment when critical mass acceptance on the financial markets will grow exponentially.

Madigan’s outlook points to prominent market players like TD Ameritrade, JP Morgan, and Fidelity as some of the big institutional names to trigger the next wave of participants and investors in crypto, and deliver new financial instruments like futures and derivatives.

Coinbase, Ripple Seek to Boost Crypto Adoption

It is worth noting that two Coinbase and Ripple officials are leading a campaign for smart crypto legislation and accountability that would drive growth and boost blockchain technology.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.