Brad Garlinghouse, CEO of Ripple Labs, stated his position on Bitcoin (BTC) during the Blockworks Digital Asset Summit in New York on Wednesday (Thursday). Speaking with Bitwise CEO Hunter Horsely, he said he first bought Bitcoin in 2012 and remains optimistic about it.

Meanwhile, after a strong bullish session yesterday, BTCUSD is undergoing a bearish correction on the H1 chart. Intraday buyers may look for opportunities to enter long positions and drive the price higher.

Ripple CEO Supports Bitcoin, Holds BTC

“I am bullish on Bitcoin, period,” Garlinghouse said, according to Bitcoin.com. He also confirmed that he holds BTC and has used it for transactions but has not sold it.

Garlinghouse’s comments come amid ongoing criticism of XRP within the Bitcoin community. Many argue that Ripple’s initial allocation of 80% of XRP’s supply concentrated control over the asset.