The CEO of Ripple Labs said he believes the US Securities and Exchange Commission (SEC) will lose the battle against cryptocurrencies in the long run.
In a new interview on the World Class podcast, Ripple CEO Brad Garlinghouse said that the SEC's anti-crypto stance and enforcement actions don't mean much in the grand scheme of things.
“In the long run they will lose. If you look at the continued growth of cryptocurrencies over the decades, this is no big deal. I am very optimistic about what the future of cryptocurrencies will be. So this is a speed bump, and you'll look back in 20 years and think, “Oh my god, that sucked.'' But yeah, it's a little bumpy. ”
In my opinion, markets will be measured in trillions and the way so many trades work will change because it's a way to reduce friction and reduce costs. [and] Make things more efficient. It will win in the long run, the best technology usually wins in the long run. ”
Garlinghouse went on to say that even the US dollar, one of the most well-governed fiat currencies, is losing its purchasing power over time, making the cryptocurrency industry's prosperity certain.
“It's inevitable. Now we're talking about $2.5 trillion. [crypto market cap]. Do you think this will easily increase 10x in the next 5-10 years? Yes, no problem…it's safe. ”
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