Ripple CEO Brad Garlinghouse doubts that the US dollar as the world’s reserve currency will disappear in favor of crypto or other asset any time soon.
Garlinghouse agrees that the US dollar is currently weaker than before the coronavirus-related crisis began, however, the dollar has been the backbone of global financial infra, and"that position is not going to disappear any time soon."
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Ripple CEO forecasts that global populations will eventually choose to diversify their assets as they are going to lose confidence in fiat currencies.
"A year ago, many decried crypto as a scam, and now a majority of govts are looking seriously at blockchain," he added.
What is more important is that the cryptocurrency market is up 80%, while the US dollar is down 3%, Garlinghouse points out.
Meanwhile, Ripple reported $32.5 million in over-the-counter XRP sales in the second quarter of 2020.
This figure represents an outstanding increase compared to Q1 sales, when the company only reported $2 million in the OTC sales.
"Programmatic sales," which the company paused in the middle of Q3 2019 and whose decision led to three consecutive quarters of falling XRP sales, will be paused while Ripple focuses on OTC sales.
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