Circle CEO Jeremy Allaire: Stablecoin Industry To Explode in Coming Years

It has been revealed the fact that Circle CEO, Jeremy Allaire says the fact that the stablecoin industry will explode in the coming years. Check out the latest reports about this below.

According to Circle CEO, Jeremy Allaire, the stablecoin industry is expected to grow significantly in the upcoming years.

In a recent interview with CNBC Television, Allaire stated that the advanced capabilities of stablecoins would allow for a rapid expansion in the industry as the demand for online digital currencies continues to increase.

“Digital dollars that can be a strong store of value, a medium of exchange that have all the powers of the internet – that’s what dollar stablecoins do. Huge innovation [that] I expect to be explosive in terms of its growth in the coming years. Just a huge utility for dollars on the internet.

[There’s a] huge appetite for dollars on the internet. That’s a very big thing and that’s distinct from people who want a currency hedge so to speak, or a store-of-value hedge.”

Allaire has stated that digital assets, such as Bitcoin (BTC), are becoming an increasingly popular choice among investors as a means of hedging against risk, which indicates that the industry is likely to remain in existence.

However, he acknowledges that BTC may not fully satisfy investors’ requirements in terms of diversification.

“Digital commodities are here to stay… and they will be valued differently. Gold is differently valued than oil, which is differently valued than copper. So there will be these digital commodities.

Bitcoin, specifically, is the sort of largest digital commodity asset and I think in the minds of many of the people investing into it, this is a risk hedge asset. It can be correlating to the availability of money supply but it can also be uncorrelated, so it doesn’t fit every box, clearly.”

Bitcoin is trading for $42,932 at time of writing this article.