Bitcoin has been finding it very hard to maintain a stable traction above $8,000 for long. There is no doubt that this hurdle appears too uneasy for the crypto asset to climb. For close to a week, BTC has been swinging back and forth between the $7,000 and the $8,000 mark.
While a large number of analysts are not doubting that Bitcoin will go beyond this marks in the next few days, pessimists keep on looking down on the future of Bitcoin.
However, it seems nearly all experts in the cryptocurrency space are investors in Bitcoin, being the king of all cryptocurrencies.
The same could be said of the CEO of Ripple, Brad Garlinghouse who has revealed he’s a strong believer in Bitcoin.
Creators of big blockchain projects are sure there is a better future for Bitcoin and the cryptoverse at large. One of them is the cerebral CEO of Ripple.
Cryptocurrency Has Nascent Future
In the latest episode of Recode Decode hosted by Kara Swisher, Brad Garlinghouse spoke on the future of cryptocurrency like XRP and Ripple technology, and how the innovation will overshadow traditional system like SWIFT despite been a new technology.
When asked if there’s going to be one cryptocurrency to rule all others, Brad said he does not subscribe to the notion that there’s going to be a single cryptocurrency to rule others.
He said “there’ll be different use cases for different things”
Ripple’s Brad Garlinghouse is Bitcoin Investor
Brad furthered during the conversation that he owns some Bitcoins, however, the CEO of Ripple (XRP) did not mention the amount of BTC he owns.
“I actually own bitcoin, so I’m long bitcoin,” Brad bragged.
“I hold bitcoin, I hold XRP, which is a part of Ripple’s technology stack,” the Ripple CEO said at another point.
However, he said Bitcoin is not suitable for solving payment problems.
“Bitcoin as a technology is slow in terms of transaction speed, and it’s expensive on a per-transaction basis.”
Brad delved into the power consumption problems of Bitcoin, saying bitcoin “alone represents almost 1 percent of global power consumption.”
Payments Company Founders Believe In Bitcoin
Brad is not the only executive of cross-border payment Caesar to be a Bitcoin investor. Peter Thiel, who co-founded one of the world’s most outstanding payment firm Paypal is a good fan of Bitcoin.
Unlike Brad, Peter believes Bitcoin will serve as an equivalence of gold.