Brad Garlinghouse says Bitcoin at $200,000 ‘is not unreasonable’ as pro-crypto sentiment gains ground in Washington
Ripple is settling the SEC dispute, focusing on strategic acquisitions and advocacy for US crypto regulation advancement.
Brad Garlinghouse says Bitcoin at $200K ‘not unreasonable,’ calls XRP top-performing asset over past 90 days
Photo: Patrick Fallon
Key Takeaways
Ripple CEO Brad Garlinghouse suggests Bitcoin could reach $200,000 due to US crypto-friendly policies.
Ripple is settling its SEC litigation for $50 million, facilitating their growth and acquisitions.
Ripple CEO Brad Garlinghouse said Bitcoin’s $200,000 price target is achievable as institutional interest rises and US regulators shift toward a more crypto-friendly approach.
“I think $200,00 is not unreasonable,” said Garlinghouse when asked about his Bitcoin price target during an interview with Fox Business Network’s The Claman Countdown on Friday. “I wouldn’t predict XRP. It’s too close to home.”
CoinGecko data shows Bitcoin at approximately $83,500, reflecting a 3% increase over the past day. However, the leading digital asset is still 23% lower than its peak value reached on January 20.
Garlinghouse said that he avoids short-term Bitcoin predictions and is focused on long-term macro trends. The CEO of Ripple is confident that macro tailwinds and the reversal of US regulatory hostility will continue to drive value in the crypto space.
“I think about what are the macro trends playing out for the crypto industry, for the XRP ecosystem,” said Garlinghouse. “XRP has been the best-performing major crypto in the last 90 days. We think about it as, what does that look like over the next three years? I’m very optimistic.”
Garlinghouse believes people are underestimating the impact of the US economy on the crypto market. He noted that the economic powerhouse has transitioned from “headwinds, hostility” to “tailwinds,” yet the market hasn’t fully grasped the positive impact of this regulatory shift.
“The largest asset managers in the world go from relatively frozen out or hostile to now a friendly market. This has sensible regulation that is thinking about pro-innovation here at home,” he said.
Garlinghouse agrees that crypto acts as a hedge against inflation and global currency instability, though short-term movements are volatile.
“The long-term value here is going to be very clear. It (crypto) is a hedge against inflation. It is a dynamic where the more utility we drive in the crypto markets, the more we’re going to see value accrete to that market,” he said.
ETFs as a safer, institutionalized gateway into crypto markets
This week, Teucrium launched the 2x Long Daily XRP ETF, the first-ever leveraged XRP ETF in the US. The product saw debut trading volume of $5 million, placing it in the top 5% of all new ETF launches.
On the spot ETF market, multiple applications for XRP ETFs have been filed in the US, though none have been approved yet. Garlinghouse said an XRP ETF would represent a safer, more institutional gateway into the crypto market.
He previously predicted that XRP ETFs would debut in the second half of this year. JPMorgan and Standard Chartered estimate XRP ETFs could attract $8 billion in inflows in the first year if they are approved.
Discussing Ripple’s recent $1.25 billion acquisition of Hidden Road, Garlinghouse said the firm would not have made the deal a year ago due to hostile regulatory conditions under the Biden administration.
The move comes as the company expands its workforce to approximately 1,100 employees. He said the acquisition could enable Wall Street giants to access crypto via traditional infrastructure, according to him.
“This allows even larger institutions like BlackRock, like the biggest Wall Street financial institutions, to come into this market in a way they understand with a safer prime broker to help clear transactions and a bigger balance sheet to do that. It’s good for the whole industry,” he said.
Under Trump, Ripple has seen a clear policy shift favoring crypto innovation. Garlinghouse credited David Sacks, Scott Bessent, and newly confirmed SEC chair Paul Atkins for creating a more crypto-friendly regulatory environment.
Garlinghouse noted that stablecoin legislation and market structure bills have gained momentum in Capitol Hill. He expects federal stablecoin legislation and market structure reform to pass soon, helping firms like Ripple, Circle, and Tether.
Launched under a New York trust license, Ripple’s RLUSD stablecoin has exceeded $250 million in market cap and is approaching $300 million.
