Circle CEO Jeremy Allaire says that is a much-lauded Bitcoin (BTC)-Prediction likely won’t come true.
When asked by CNBC anchor Kelly Evans to explain whether Bitcoin would be “before March 31st.
“It’s hard to see.”
Crypto executives testifying before Senate today to stand up for #stablecoins – Circle CEO @jerallaire explains why we are at a crucial moment for #crypto and digital assets pic.twitter.com/g2AVsHeLZR
– The Exchange (@CNBCTheExchange) December 14, 2021
In the past few months, several cryptocurrency analysts and influencers have predicted that Bitcoin could soar to over $ 100,000 by the end of 2021.
These include veteran crypto trader Tone Vays, quantitative crypto analyst Plan B, the entrepreneur for serial Cryptocurrencies Bobby Lee and Bloomberg commodities strategist Mike McGlone.
Allaire also says stable coins, pegged to the world’s major fiat currencies, will be a “critical building block” of the decentralized Internet, also known as Web 3.0.
According to the Circle boss, a decentralized internet offers an opportunity for the US dollar to dominate online.
“A critical component of this [web 3.0] will be representations of the major currencies, with the dollar playing a prominent role.
There is a chance for the United States to take the lead. Lead the way in blockchains, make the dollar the currency of the internet. “
Allaire says stablecoins require federal regulations to function securely and legally.
“Of course we need security and solidity. We need rules to protect against financial crime.
We need honest federal laws to make these kind of big ones Stablecoin– Define issuers like Circle. “
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Source: Crypto News Deutsch