Leading Bitcoin (BTC) firm CEO predicts when stablecoin market would reach $1 Trillion
An early BTC bull, and CEO of the leading bitcoin firm Unstoppable Domains, Matthew Gould predicted a bright future for the stablecoin market. He said that with decentralized finance getting widely accepted, Stablecoins value could potentially touch $1 Trillion by 2025, or even earlier.
Gould made his confident bet highlighting the rapid growth of the stablecoin market. He argued that from $1 Billion in 2019, the market has hiked to the exceptional $100 billion in just two years, and this kind of growth symbolizes success in the foreseeable future. Gould expects the private stablecoin market to show 10 times growth year-over-year, for the next four years.
“We may even do it quicker than that…The more people with stablecoins in the pocket, the more people who can participate in decentralized finance,” Gould told Market Insider.
Gould Predicts BTC may take at least a year to return
Gould predicted that Bitcoin may take an entire year to make a return as high as 2021 April’s spike. He explained that a fall greater than 50 percent needs a longer duration of consolidation.
“I think we’re going to continue to be range-bound for the rest of this year,” Gould said.
Additionally, Gould promoted Stablecoins’ less risky nature instead of their 1:1 ratio backed by traditional fiat currencies. While they are reportedly less volatile, the addition of simple domain names helps the Circle group expand the adoption of stablecoins altogether. Gould emphasizes the comparatively straightforward nature of stablecoin use in financial transactions.
“Imagine you were selling a product, and then the first thing that people felt when they used your product was fear and that’s essentially what it was like for cryptocurrency,”, he added comparing the stablecoin market to mainstream volatile cryptocurrencies.
Unstoppable Domain partnership with Circle
Gould’s prediction of the stablecoin market’s success has come with Unstoppable Domains’ recent partnership with Circle, which issues the USDC stablecoin. The partnership with Circle is aimed at launching readable “.coin” usernames for USDC transfers, and enable support for .coin username extensions for stablecoin dominant crypto wallets and exchanges.
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