Brad Garlinghouse, CEO of Ripple, tries to decipher all the noise surrounded around cryptocurrency and its future potential. According to the recent Fortune interview on June 20, Brad Garlinghouse stated that the top cryptocurrency Bitcoin (BTC), and the third largest coin Ripple (XRP), are not competitors.
During the interview, Brad highlighted the key difference of two major cryptocurrencies, saying that bitcoin is a store of value or digital gold, and on the other hand XRP is a bridge currency that provides an efficient solution for fiat-to-fiat transfers.
“I own bitcoin, I’m long bitcoin. I think Bitcoin is a store of value and people hold it.”
Brad also expressed that there will not be one single cryptocurrency to “rule them all,” stating that each and every digital asset should prove a certain use case.
Recently, Ripple collaborated with leading money transaction service MoneyGram to build cross-border payments and also foreign exchange settlements with digital currencies. As a result of this partnership, MoneyGram enabled to pull up to $50 million from Ripple in exchange for equity.
According to Coinmarketcap, At present XRP coin is trading at $0.443450 USD or 0.00004506 BTC . Currently the coin is holding market cap value of $18,539,736,900 with 24 -hr volume $1,534,542,612 USD.