Ripple CEO Says 99% of Cryptocurrencies Will Fail and Go to Zero

According to the CEO of Ripple, the vast majority of cryptocurrencies will fail, with only a few key projects succeeding.

In a recent interview with Bloomberg, Brad Garlinghouse, the CEO of Ripple, the company behind the XRP cryptocurrency, the vast majority of cryptocurrencies will not have a future. Garlinghouse believes that only projects solving actual problems will survive.

“I have said publicly before that I think 99% of cryptocurrency probably goes to zero, but there is that 1% where I think it’s focused on solving a real problem for real customers and is able to do that at scale and that’s going to be game-changing and I think is going to continue to grow significantly in the decades ahead.”

At recently as 2016, Bitcoin held over 90% of market dominance among cryptocurrencies. This changed dramatically over the next two years, with its percentage of total cryptocurrency valuation sinking below 33% in January of 2018. Since then, however, many of its fellow…