Billionaire investor Stanley Druckenmiller said stablecoins could become a major part of the world’s payment system within the next 10 to 15 years.
In an interview with Morgan Stanley, Druckenmiller said blockchain-based payments are faster, cheaper and more efficient than traditional banking systems. He said stablecoins could help make sending money easier and more productive on a global scale.
He added that today’s payment networks, which rely on banks and fiat currencies, are less efficient than digital systems built on blockchain.
Still, Druckenmiller said he is not fully convinced that cryptocurrencies such as Bitcoin should be seen as a long-term store of value. While he believes stablecoins have clear use in payments, he said crypto as an asset class is less certain.
Featured image from: cointelegraph.com