Bitcoin Won't Be A Global Currency: Ripple CEO

Ripple CEO Brad Garlinghouse told CNBC on Tuesday that he feels Bitcoin (BTC) will not be the global currency some investors think it will be.

“I think it’s not going to be the panacea that people once thought it would be, where it would solve all of these different kinds of problems,” Garlinghouse said. “Instead, you’re seeing specializations of different kind of ledgers, different kinds of blockchains.”

Garlinghouse went on to say that its not necessarily a case of one currency versus another, but he was quick to point out that XRP transactions are “a thousand times faster” than those of bitcoin, which he said was “quite slow”.

He went on to say that the maximalist ideology of there being only one currency is not the way to go. “There’s some people in this, the crypto space, the blockchain space — for them, it’s almost a holy war of one versus the other. I don’t look at that at all,” he said. “I think that what we’re seeing is the overall growth of this space and there will be many winners,” he added.

Apple co-founder Steve Wozniak seems to think different as he recently said that he hoped bitcoin could become a one-world currency, a prediction that has been previously made by Square CEO Jack Dorsey.

Do you think Bitcoin (BTC) will be a world currency? Let us know in the comments!