Barry Silbert, the CEO of Digital Currency Group (DCC), has predicted that there will be publicly-traded cryptocurrency companies in 2020. He said that special-purpose acquisition companies (SPACs) have been approaching him with merger pitches in a recent tweet.
SPACs are shell companies that raise money from IPO investors to invest in operating businesses later. While going through the usual IPO can take months, going public through a SPAC IPO is possible within just a few weeks.
Ripple CEO Brad Garlinghouse had made a similar prediction at the World Economic Forum in Davos in January. He claimed that there would be IPOs in the blockchain space and Ripple would lead that trend.
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