CEO Jeremy Allaire of Circle, the emitter of the USDC stablecoin, has shared with his X followers why he is very bullish on crypto.
He posted a long-read on X, in which where he revealed several key reasons why he feels very bullish on what is unfolding in the world of cryptocurrency now.
"I'm more bullish than I have ever been about crypto"
The Circle boss revealed that after building his company for more than 11 years, he has never before felt so bullish on crypto as he feels now. One of the reasons for which he is “super bullish,” in addition to several others, is that the absolute majority of people “have an extremely narrow and limited understanding of what’s unfolding.”
I’m more bullish than I have ever been about crypto.I have been building @Circle for over 11 years, and at no time have I been more optimistic than right now.I also believe that the overwhelming majority of people have an extremely narrow and limited understanding of what’s…
— Jeremy Allaire (@jerallaire) June 19, 2024
Jeremy Allaire believes that crypto represents “the next logical layer of infrastructure for the Internet.” Allaire has watched the internet develop from a nascent trend that hardly anyone believed in or thought they needed at the start, to the world wide web that has been integrated into virtually everyone's lives, without which people cannot imagine living without.
Bitcoin walked on the stage in 2009 and set many to thinking about BTC's prospects of expanding “to provide a more generalized internet infrastructure that could be foundational to society and the economy.” While before Bitcoin, the internet lacked trust when transferring significant amounts of information, Allaire mentioned, now cryptocurrencies launched on blockchains and smart contracts could actually create a trusted environment that users and developers had been lacking on a global scale.
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Bullish future of crypto, per Circle CEO
Currently, as public blockchains have evolved into their third generation, the CEO says, there are now huge innovative communities of multiple blockchains competing with one another. They are constantly improving and innovating their networks, adding more security, privacy and transaction throughput.
Bitcoin by now has turned into one of the biggest and most powerful alternative investment tools on the market, with the largest Wall Street companies setting up ETFs based on BTC. Stablecoins are also becoming more and more popular, Allaire pointed out.
With all this, the world is now in the very early stages of cryptocurrency adoption, he stated, and that is “insanely bullish.”