Ripple CEO: Bitcoin a store of value, not suitable for transactions
|- Brad Garlinghouse highlighted the coin’s scalability problem.
- He also believes that an IPO will be "a natural evolution" for Ripple.
In a recent interview, Brad Garlinghouse, CEO of Ripple, spoke about the financial industry that’s rapidly changing. He discussed Bitcoin’s use cases and Ripple’s IPO plans, among many other things. Garlinghouse said that Bitcoin is not suitable for micropayments and emphasized BTC’s scalability issue. He said:
You don’t want to use BTC at Starbucks b/c by the time you get your coffee, it’ll be cold.
Over time, Ripple has gained traction as it’s fast and more scalable when compared to Bitcoin. While Bitcoin can process seven transactions per second, XRP can handle up to 1500 per second.
However, he is still bullish on BTC being a store of value, meaning he sees the coin in the same category as gold. Other industry experts like Bridgewater Associates co-founder Ray Dalio believe that Bitcoin cannot retain its value due to its volatile nature.
According to Garlinghouse, 2020 will be the year when several crypto firms will go public, following the lead of Canaan Mining. He believes an IPO to be "a natural evolution" for Ripple.
Garlinghouse said:
In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.
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