Circle CEO Makes Bold Prediction That Stablecoins Will Be Globally Recognized As Legal Cryptocurrencies By The End Of 2025.
Jeremy Allaire, CEO of Circle, the company behind it stablecoin USD Coin (USDC), has made a bold prediction that stablecoins will be globally recognized as Legal cryptocurrency by the end of 2025.
At the present time, stablecoins have grown rapidly and they are considered cryptocurrencies designed to maintain price stability by pegging them to a reserve asset such as USD.
In a recent post on X, Circle’s CEO laid out the main reasons why he is bullish on the cryptocurrency and stablecoin markets. He pondered about development of digital assets since 2009, when at that time almost no one knew what Bitcoin was.
However, by 2024 it becomes the largest cryptocurrency, Allaire reaffirms his confidence in the future of the cryptocurrency sector in general and stablecoins in particular.
I’m more bullish than I have ever been about crypto.
I have been building @Circle for over 11 years, and at no time have I been more optimistic than right now.
I also believe that the overwhelming majority of people have an extremely narrow and limited understanding of what’s…
— Jeremy Allaire (@jerallaire) June 19, 2024
According to him, though Bitcoin has been around for more than a decade and has had unbelievable developments in the financial market, but many people still believe that the idea of virtual assets is weird.
However, with the development of blockchain technology, Digital assets have been accepted and appreciated worldwide. Speaking further about the meteoric rise of cryptocurrency and blockchain technology, Allaire stated that:
With a large, thriving community and competition and innovation across dozens of major blockchain network ecosystems… Digital assets have become an accepted part of the global financial system, with almost every major government in the world setting clear rules on how digital assets are issued, used and traded.
Furthermore, Allaire emphasized the growth potential of stablecoins, claiming that they can accounting for 10% of the global economy in this decade. Allaire added about stablecoins that:
Stablecoins have exploded in size and user base, emerging as the most visible asset in the cryptocurrency sector.
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