CEO Circle: There is a place for both Libra and Bitcoin in the world of digital assets
The CEO of Circle, the owner of the Poloniex cryptocurrency exchange and the issuer of the USDC stablecoin, Jeremy Aller, in a conversation with CNBC, said that the activity of his clients at the end of last year indicated that the bitcoin market had reached a local minimum..
“In December, when the market really bottomed out, we began to watch as investors with long-term conviction began to build significant positions in key digital assets. So the situation gradually developed until the second quarter, when people announced the coming of the “crypto-spring”, “he said..
Aller believes that the fundamental characteristics of cryptocurrency technology are improving at a rapid pace, and understanding of the new asset class is coming to a wider range of potential investors. He is also confident that the emergence of projects like Facebook from Libra will further spread the technology to billions of users..
When asked about how Libra will help the spread of Bitcoin, Aller said: “We believe that over time, end users, individuals and organizations will have crypto-financial accounts in which they can hold many different digital assets. They will be able to send and receive all of them. The winner-take-all model will not work here “.
CEO Circle believes that digital assets backed by local currencies will be useful for solving day-to-day tasks, such as paying taxes or receiving salaries. “At the same time, bitcoin is based on the thesis that we will continue to observe the growth of non-government money, private money will become more important, and not vice versa. More and more people will begin to realize the value of uncensored digital assets with a high level of security, such as bitcoin, “he concluded..
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