"Stablecoins and Bitcoin (BTC) could reshape the financial landscape"

JH Kim

Summary

Stanley Druckenmiller said stablecoins could become the foundation of the global payments system within the next 10 to 15 years.
He explained that stablecoins are more efficient and faster than existing payment systems and cheaper, making them useful from a productivity standpoint.
He also said Bitcoin (BTC) has already become a brand, and given people’s preference for it, it is likely to remain a store of value.

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Stanley Druckenmiller, a heavyweight in the U.S. hedge fund industry, said stablecoins and Bitcoin (BTC) could bring major changes to the financial system going forward.

According to CoinDesk, a media outlet specializing in digital assets, Druckenmiller said in an interview with Morgan Stanley on the 13th (local time) that "within the next 10 to 15 years, stablecoins could become the foundation of the global payments system."

He explained that "stablecoins are more efficient and faster than existing payment systems, and costs are lower," adding that "the use of blockchain and stablecoins is also highly useful from a productivity standpoint."

As for Bitcoin, he said it has "already become a brand," and added that "given people’s preference for it, it is likely to remain a store of value."

He then questioned how long the U.S. dollar’s status as the world’s reserve currency can be sustained, adding that "we don’t know what currency will be the reserve currency 50 years from now."