Ripple Labs CEO believes rising US inflation rate would favor crypto adoption

Ripple Labs CEO

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Ripple Labs CEO, Brad Garlinghouse has said that inflation in the United States is a good one for crypto adoption.

This year will be one to remember for most people and sectors of the economy especially the financial sector. Due to the coronavirus pandemic, majority of investments and operations have folded up, while others are still looking for. In the article, the writer talked about how interest rates are still on the low side despite the threat of growing inflation.

Ripple Labs CEO says diversifying of assets would increase Bitcoin adoption

After the pandemic started to hit major countries around the world at the start of March, the economy of America has been on a declining run. To make matters worse, they were claims of job losses, news of cash printing amongst other things which were one of the factors that have put the economy in its current crisis. 

To back up his thought, Ripple Labs CEO said that if the dollar is debased, it would allow people diversity assets which are a very promising move for Bitcoin and other digital assets.

Bitcoin adoption can now stand as a hedge like Gold, Gemini co-founder says

According to Ripple Labs CEO, Brad Garlinghouse, the government has been trying to deal with both interest rates and inflation since the pandemic began. Although he stressed that there might be too many challenges to this respect, Bitcoin adoption would be a key positive from all this. 

In his words, Bitcoin could act as a hedge for investors in the digital assets space. Recently, Gemini exchange co-founder, Tyler Winklevoss said Bitcoin now has the same properties as gold to stand as a hedge. He also noted that if the coin enjoys so much adoption, then it is on its way to hit the $500,000 mark in the coming years.

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Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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