No one is happy about the US inflation rate but it is being seen as a catalyst to crypto adoption. However, Brad Garlinghouse the Ripple Labs CEO appears optimistic that the inflation rate is a big boost to crypto adoption.

Thanks to the coronavirus pandemic many businesses have been hit to a point of folding up. Others are downsizing and investors are holding on to their assets in the hope that the “new normal” will turn around not only the US economy but the global one as well. A lot needs to be done to flatten the pandemic curve and spike the economic one.

Asset Diversification and Crypto Adoption

According to Garlinghouse, crypto adoption can only be achieved by asset diversification. The pandemic has not spared any investor. This has seen the US economy decline. Jobs have been lost and printing of cash has become the norm. The crisis has been also hot by the Washington and Beijing trade war.

The CEO however sees the debasing of the dollar as an opportunity for asset diversification. Digital assets are the only easy way and this is a surefire way for crypto adoption. He goes on to add that crypto adoption and especially Bitcoin (BTC) will transform to a hedge like gold.

Crypto Adoption a Global Nightmare

According to Garlinghouse, the US inflation has turned to a nightmare with interest rates not favoring the investor. However, an exit from fiat to crypto will see a shift in digital asset usability and the resulting adoption.

The same sentiments have been expressed by a co-founder at Gemini exchange Tyler Winklevoss who sees Bitcoin (BTC) headed the hedge direction in the future. However, it is not an easy walk in the park for the leading digital asset; it will take several years of adoption.