- Brad Garlinghouse of ripple has made a statement calling for the diversification of crypto assets in order to help fight the growing inflation rate.
- The CEO was responding to an article published by Bloomberg regarding JP Morgan who said that bitcoin just took its first test and mostly got positive results.
Through a recent tweet, Brad Garlinghouse of Ripple labs has made a statement calling for the diversification of crypto assets in order to help fight the growing extreme inflation rate on an international scale. The CEO of the San Francisco based blockchain company was responding to an article published by Bloomberg regarding JP Morgan who recently said that bitcoin just took its first test and mostly got positive results.
Brrr jokes aside (which are hilarious), we need to take a cold hard look at how many countries are likely on the precipice of extreme inflation. Diversification into other asset classes including crypto could help stabilize markets in the future. https://t.co/bs58HdgXpP
— Brad Garlinghouse (@bgarlinghouse) June 13, 2020
According to the CEO, the global market needs to take a significant analysis of the extreme inflation that is about to throw itself into the world.
According to the article published by Bloomberg, the leading cryptocurrency may have just passed its first test during the first quarter of market volatility. This was during the time when it lost almost half of its value and swiftly recovered from its crash in early March.
It seems that the CEO of ripple is of the mindset that every cryptocurrency will eventually thrive going off its utility and capability in order to solve challenges within the system.
Currently, the world is going through a strange and uncertain time. COVID-19 played a big part in that uncertainty but the protests and demonstrations going on in the United States as well as all over the world are adding to that worry even so.
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
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