In the latest Crypto Banter episode, the Director of Global Macro at Fidelity Investments, Jurrien Timmer said he believes stablecoins pegged to the dollar will increase the adoption of Bitcoin. According to Timmer, if stablecoins are regulated, and there aren't negative headlines that we had seen, investors might become more confident, and we will see an adoption curve. He said he believes that stablecoins regulations will happen and it will help the institutional adoption.
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The executive sees growing potential in the space if the cryptocurrency winter and deleveraging end and the sector becomes safer. Timmer added this will encourage more people to join.
Currently, the total crypto market stands at above $1 trillion. Bitcoin trades at around $24,000, increasing by 2% in the last 7 days.