The CEO of Ripple, Brad Garlinghouse, speculates that Joe Biden may have an eye on Bitcoin’s alleged hostility to the climate. And this will make public companies begin to pay attention to new federal regulations. He also went further to warn public companies, in a recent tweet, against investing in Bitcoin. The tweet came as a response to an article published by the New York Times, which listed some early goals of the Joe Biden administration.
According to the New York Times, Biden could put a renewed focus on climate change, rejoin the Paris Agreement, sign implementing regulations to reduce emissions, and reverse energy decisions. Garlinghouse also believes that Biden could demand that all publicly traded companies disclose their greenhouse gas producing activities. In other words, Brad Garlinghouse asserts that Biden’s administration could focus on companies that hold Bitcoin.
Brad Garlinghouse on the recent Bitcoin investments
He referred to the ongoing adoption of Bitcoin by companies as a trend that has received a lot of attention in recent weeks due to the announced investments of MicroStrategy and Square.
Brad, however, repeatedly ran with the narrative orchestrated by Ripple recently that Bitcoin is harmful to the climate. Thus, a “greener” alternative is available with the XRP Ledger and the XRP token. Sometime in September, when MicroStrategy made its investment in Bitcoin public, Brad described the decision as “bold and brilliant.” But the possible change in the U.S leadership seems to have changed Brad’s opinion, which is quite surprising to other observers.
CNF also reported the headlines made by Square in October when it became clear that the company included 4,709 BTC in its balance sheet holdings as an alternative to the U.S dollar. Jack Dorsey’s company invested about 1% of its available cash in BTC as well.
However, MicroStrategy was the first mover in the corporate adoption of BTC in August. The publicly traded tech company purchased about 38,250 BTC as reserve currency against U.S dollar inflation and has made huge profits due to the recent Bitcoin rally.