According to the CEO of Paxos stablecoin developer Charles Cascarilla, in 2022 the cryptocurrency industry will enter a qualitatively new phase of development.
First of all, this concerns the entry of institutional investors into digital assets. We will also see the massive adoption of cryptocurrencies.
Moreover, the positions of the largest virtual coins will improve significantly in fundamental terms. Cascarilla expressed his point of view on the air of CNBC. However, he doubts that bitcoin will be able to become a global payment instrument this year.
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It is too early to talk about the international recognition of BTC. The proliferation of such assets continues, but it will not be fast. The same can be said about such popular altcoins as Dogecoin.
But interest in stablecoins will be higher than last year, Paxos CEO predicts.
According to him, the 400% increase in the supply of fiat-backed digital currencies last year signals a growing demand for such tokens, which, unlike bitcoin, are not speculative instruments.