Ripple CEO Brad Garlinghouse has predicted the global value of the crypto market will double by the end of 2024, CNBC has reported.
The global cryptocurrency market capitalization is approximately $2.59 trillion, according to data from CoinMarketCap.
Garlinghouse has expressed optimism about the future of cryptocurrencies, citing factors such as the emergence of spot Bitcoin exchange-traded funds (ETFs) as a major contributor to the increase in institutional investments. In his opinion, this is the first time that "real" institutional investments in cryptocurrencies have been made.
In addition to the rise in ETFs, Garlinghouse also pointed to the upcoming halving, scheduled for later this month.
Historically, Bitcoin halvings have been followed by rises in cryptocurrency prices.