However, Circle’s Chief Executive, Jeremy Allaire, is optimistic about the stablecoin market in coming years. In the coming years, he expects massive growth in this space as these are superior payment instruments and thus will rise.
Soon, Expect Expansion of Stable Coins Industry
Recently in an interview with CNBC, Jeremy Allaire stressed on the uniqueness in stablecoins and interest in a digital dollar. Soon, he says, the sector will witness phenomenal growth. Allaire stated:
As such, stablecoins offer a strong value reserve combined with an Internet capable “digital dollar”. I am convinced that this innovation will take a big leap soon. It is a major use case for electronic dollars on the internet that covers considerable demand for the dollar in an online environment. Such a step, in fact, is huge for those who are looking for stability of funds and protection of their savings from depreciation.
Transitioning to Cryptocurrencies
Jeremy Allaire commented that investors are changing, and instead of diversifying their portfolios with traditional assets like real estate, they are opting for digital currencies such as BTC, which is evidence that popularity will continue in this field. On the other hand, he noted that Bitcoin may not meet all investors’ needs.
Allaire commented:While we still have cryptocurrencies, each will be unique, with its own value in the market. These digital assets should be valued similarly like gold, oil, and copper have varying prices. Among digital commodity assets, the one that is mostly popular nowadays is Bitcoin and it is considered to be the hedge for many investors nowadays. It can play a role linked with the dynamics of the money supply or not and thus cannot be used in all cases.
As of today’s writing, Bitcoin increased by 2.13% within last day and costs $41,932 dollars.