Bitcoin remains close its $74K all time high. Brad Garlinghouse, CEO of blockchain startup Ripple, told CNBC he expects the entire value of the crypto market to double to $5 trillion, citing macro factors such as spot EFTs and the upcoming bitcoin halving event. Total crypto market capitalization was roughly $2.6 trillion as of April 4, 2024.
“I’ve been in this industry a long time and I’ve seen these trends come and go. I’m very optimistic. I think macro trends, big picture things like ETFs, are encouraging real institutional money for the first time,” Garlinghouse said. said.
The first spot Bitcoin ETFs were approved by the US Securities and Exchange Commission on January 10. Spot EFTs allow Bitcoins to be traded on traditional exchanges. With the approval of EFTs, Bitcoin entered an upward trend and exceeded 73.000 dollars on March 14. Bitcoin, which later dropped to the level of 61.000 dollars, is now at $72,769 and is close to its historical all time high of $74,000.
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