From last few days we have witnessed a few blame games in the crypto market. Continuing to that while speaking at 2018 Stifel Cross Sector Insight Conference, Garlinghouse told to huge bulk of attendees that bitcoin is actually “controlled by China.”
Source: The Street
He said that:
“I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China.”
He explained to the audience that there are 4 miners who control 50% of Bitcoin in China, reported by the financial publication of “TheStreet.”
This seems that Garlinghouse is somehow taking the advantage of recent bitcoin fiasco by undermining a few cryptocurrencies and taking the opportunity to outshine.
Last week, Garlinghouse even shared his view on Bitcoin by saying that “Bitcoin is not going to last longer and is most likely not going to be the “future digital currency” as they all say.” He told this to CNBC on June 5th, 2018.
Garlinghouse also says that “the crypto market is actually influenced by the fluctuations in Bitcoin, which would soon come to an end as soon as people start to realize the difference between the assets.”
Let’s see what we can see in coming days and how the miners of China respond to these statement of CEO Ripple Garlinghouse. But such statements clearly impacts the situation in the Bitcoin market.
Also we will see that how exactly was Garlinghouse correct in his predictions.