A top executive at Fidelity Investments says that dollar-pegged crypto assets could help drive up the rate of Bitcoin (BTC) adoption.
In a new interview on the Crypto Banter YouTube channel, Fidelity’s director of global macro Jurrien Timmer says that favorable stablecoin regulation could act as a catalyst for Bitcoin adoption.
“If stablecoins are regulated and deemed safe and we don’t have the headlines about stables that we had not too long ago and the space is legitimized, then I think maybe investors will have more confidence that the network effect, the adoption curve of Bitcoin, which has followed a number of historical escrows whether it’s internet usage or mobile phones.
As the space becomes legitimized and gains more scale, I think more and more investors might start to feel comfortable that the promise of this expanding adoption curve can actually be fulfilled.”
Timmer says that technical models and charts show that the latest crypto winter heavily impacted the markets and that investors need to feel safe before considering diving back in.
“We’re below all of [the models], and of course we had a big crypto winter, a lot of deleveraging, it’s kind of par for the course. I think the space is pretty washed out, and everybody is either short or at least not long.
So I do think there’s a lot of potential here…if the water feel safer to go back into, more and more people will start looking at the promise of this adoption curve.”
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