Brad Garlinghouse, a well-known member of the crypto community due to his former employment at Yahoo and the current CEO position of Ripple, gave a few statements about Bitcoin. According to Garlinghouse, Bitcoin doesn’t suit well as a way to make quick payments. Instead, it serves as an excellent way to store value.
Speed Is King For Payments
The topic, shared by many, was disclosed during the World Economic Forum that took place in Davos, Switzerland. There, the CEO of Ripple explained that he was quite pro-Bitcoin, but not as a form of payment. Instead, Garlinghouse considers it a good store of value, something that isn’t as liquid as one would think.
To prove his point, he took the example of a simple act of buying coffee at Starbucks. According to Garlinghouse, the coffee you ordered will be cold by the time the funding will be finalized. With this example, the core argument of Garlinghouse is shown to be related to speed. Something Bitcoin had been battling for some time now.
Taking Part To Advertise Products
On the 23rd of January, 20202, Ripple took the time to be featured within a panel that the wall Street Journal had hosted. The panel, aptly named “Changing the Finance Industry From Within,” was hosted at the WEF in Davos. This panel was anchored by way of Phillipa Leighton-Jones, who serves as an Editorial Director at the Wall Street Journal and Dow Jones.
Of course, the CEO of Ripple had praises to sing about one form of a blockchain network in particular: Ripple and its XRP tokens. He cited his company’s efforts within the remittance industry in this instance.
Brad has made it clear in the past already about how he felt about Bitcoin: He liked it, but not as a payment method. For that, Garlinghouse naturally prefers his company’s native token, XRP.
Climate Change and IPOs
One of the critical issues about Bitcoin is its power-intensive mining aspect. With climate change going on the rise and the topic being handled at the WEF, Garlinghouse stated that Bitcoin mining, in particular, was attributed to 1% of the world’s energy consumption. The statement’s validity is probable, but one should consider Garlinghouse’s position when absorbing that information. This is highlighted by Garlinghouse stating that an XRP ledger validator takes the power of a lightbulb, just after he highlighted the usage of energy needed from Bitcoin.
In other news, the CEO has also confirmed that Ripple was making ready to launch its IPO. The statement is furthered, claiming that the blockchain and crypto industry will be filled with IPOs come a few months.