A top executive at Fidelity Investments says dollar-pegged crypto assets could help boost adoption Bitcoin (BTC) to increase.
In a new interview on the Crypto Banter YouTube channel, Fidelity’s Director of Global Macro, Jurrien Timmer, says a cheap stablecoin-Regulation could act as a catalyst for bitcoin adoption.
“If stablecoins are regulated and considered safe and we don’t have the headlines about stables that we had not too long ago and the space is legitimate, then I think maybe investors will have more confidence that the network effect, the Bitcoin adoption curve that has followed a series of historical escrows, whether it be internet use or mobile phones.
As the space becomes legitimized and scales up, I think more and more investors will start to feel comfortable that the promise of this growing adoption curve can actually be fulfilled.”
Timmer says that technical models and charts show that the last crypto winter has had a major impact on the markets and that investors need to feel safe before considering re-entering.
“We are among everyone [the models], and of course we had a big crypto winter, a lot of deleveraging, it’s kind of par for the price. I think the space is pretty washed out, and each one is either short or at least not long.
So I think there’s a lot of potential here…when the water feels safer to go back in, more and more people will start looking at the promise of that adoption curve.”
Source: Jurrien Timmer/YouTube
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Source: Crypto News Deutsch