Jeremy Allaire, co-founder and CEO of payments company Circle, believes non-government cryptocurrencies such as Bitcoin (BTC) will continue to grow despite the proliferation of new forms of digital assets such as Facebook's Libra and Stablecoins.
In an interview on CNBC's Squawk Box on June 24, Allaire argued that the cryptocurrency landscape will not develop in a direction that all "winners" go for, but rather a range of different digital assets with varying degrees of autonomy and regulation by and large grow together are used by individuals and investors alike.
Allaire distinguished primarily between various digital assets, pitting stablecoins, and other asset-linked cryptocurrencies ̵
"Individuals and institutions will have crypto-financial accounts on which they can hold all these different assets and send and send all of them. It will not always be a winner. "
Allaire argued that fiat-linked cryptocurrencies will continue to gain acceptance for everyday payments that people in their paycheck or transactions like taxes require. Regulators and governments, he added, will – and will – find ways to strengthen the regulation of issuers of such assets.
At the same time, however, Allaire said that he believed the value of access to credit would become increasingly recognized. A censorship-resistant and highly secure digital asset such as Bitcoin – a non-sovereign currency – will continue to grow.
Allaire also gave an outlook on the renewed uptrend of the crypto market and noted it as early as December – when the market hit The bottom of the crypto winter reached its low point – we saw long-term conviction that investors started to gain significant positions in digital core assets build.
This is now supported by the growing foundations of cryptocurrency technology, the emergence of trading and institutional platforms, and corporate growth. New regulatory frameworks have taken shape, he said.
Last but not least, he suggested that new blockchains, such as Libra, are indicators that crypto is becoming a mainstream phenomenon that will eventually reach billions of people.
As reported by both disruptors and established companies – decentralization Both advocates and government and central bank officials expressed mixed views on the potential impact and design of Facebook's newly emerged digital currency Libra.
Yesterday, a former United States President of the United States Economic Adviser, Donald Trump, said the digital token poses a challenge to central bankers and, on balance, is a good thing.