Ripple CEO, Brad Garlinghouse, has condemned Galaxy Digital CEO Mike Novogratz for saying XRP will have another lackluster year in 2020.
Novogratz, speaking to a group of financial advisers, tongue-lashed Ripple, where his firm has its largest investments, for being behind XRP’s poor performances.
While chatting on the stage with finance guru Ric Edelman during the TD Ameritrade’s National LINC 2020 conference in Orlando, Florida last week, Novogratz said Ripple owns a large amount of XRP, which points to the failure of the digital token.
“Ripple the company owns 60 billion of the coins, of the XRP,” he said while responding to questions at the event.
“That’s a lot of it.”
Speaking further, the financial expert related the situation of XRP with the stock market, saying “when I’m buying a stock, if I know [someone’s] selling $10 billion-worth of it at some price, it makes me less excited to buy the stock.”
Ripple CEO Brad Garlinghouse Responds to Novogratz
Brad in a series of tweets, responded to Novogratz, pointing that XRP has outperformed Bitcoin (BTC) and the entire crypto market in 2020.
The CEO, who berated Novogratz for his outright condemnation of XRP, noted that analytical evidence inferred that XRP is up 44% in 2020 alone compared to Bitcoin’s 33%.
In January, XRP was trading around $ 0.19 and has drastically jumped to $ 0.27 this year alone, indicating that the digital currency has outperformed Bitcoin, which jumped from $7100 to $9500.
Garlinghouse said: “Ahem… IS THIS THING ON… can I get a fact check on aisle CoinDesk? XRP has outperformed BTC and the broader crypto market in 2020. XRP is up 44% (19.1 to 27.5) vs BTC’s 33% (7,100 to 9,500) so far this year.”
Also, the CEO of Ripple reminisce on Novogratz’ price prediction of 2019 that never come true. The CEO of Galaxy Digital foretold the crypto world that Bitcoin would reach $20,000, however, BTC did not go beyond $13,500 in 2019.
Garlinghouse also claimed Novagratz predicted that Tom Hanks would win an Oscar for Mr. Rogers, saying maybe this will be the only prediction he will get right.
Garlinghouse added: “This is the same guy that said bitcoin will go to 20K in 2019…He did predict Tom Hanks would win an Oscar for Mr. Rogers – maybe this is the prediction he’ll get right? Personally voting for Brad Pitt though”