How crypto could even out the markets during extreme inflation

• Taking to Twitter, Brad Garlinghouse called for diversification into other assets in the crypto space. 
• This is in order to counter the growing inflation rate on a global scale. 

Taking to Twitter earlier this month, the chief executive officer of the San Francisco-based blockchain company ripple, Brad Garlinghouse called for the diversification into other assets in the crypto space. This is in order to counter the growing inflation rate on a global scale. The CEO was making these comments in response to an article from Bloomberg called “JPMorgan says Bitcoin just took its first test and got ‘mostly positive’ results.”

He further makes the argument that the global market need to take a step back and examine the imminent extreme inflation rate that has been triggered through numerous factors. Despite his well written argument, his tweet attracted a mixed reaction from the community, especially in regards to the support for ripples own token, XRP. You can see his tweet below:

Brrr jokes aside (which are hilarious), we need to take a cold hard look at how many countries are likely on the precipice of extreme inflation. Diversification into other asset classes including crypto could help stabilize markets in the future. https://t.co/bs58HdgXpP

— Brad Garlinghouse (@bgarlinghouse) June 13, 2020

The extreme inflation rate in many countries all over the world such as Venezuela have encouraged many of its citizens to turn to the world of crypto as an alternative. Despite this, due to the environmental worries surrounding mining of different crypto assets, the CEO of ripple has pushed For the mass adoption of XRP as a means of retail transactions.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!