Billionaire venture capitalist Chamath Palihapitiya thinks that dollar-denominated stablecoins will make their mark this year. Stablecoins are currently mainly used for trading by cryptocurrency investors. However, its usage area is much wider.
Increase in Stablecoin Usage
Palihapitiya emphasized that businesses are starting to use stablecoins for “useful functions.” As of the end of the second quarter of 2024, approximately 1.1 billion transactions were made in stablecoins and the total transaction volume was recorded as 8.5 trillion dollars. He stated that this figure is more than double Visa’s transaction volume in the same period.
Palihapitiya assessed that the current situation has passed the point of no return. Bitcoin last year $101,782.3Thinking that ‘ will be the big trend, Palihapitiya said that the big trend of 2025 will be the use of stablecoins. He also predicted that they would launch competition against the duality of Visa and Mastercard.
New Usage Areas and Growth Forecasts
The venture capitalist from Silicon Valley predicts that stablecoins will find many new uses this year. He also stated that he thinks presidential candidate Donald Trump will target credit card companies due to high costs. Palihapitiya predicts that the stablecoin industry could have the potential to grow four- or fivefold by the end of the year.
“With the use of stablecoins, we will challenge the monopoly of Visa and Mastercard.” – Chamath Palihapitiya
Palihapitiya argues that stablecoins will play an important role in the financial ecosystem and provide an alternative to traditional payment systems. He thinks that these developments will create new opportunities in the field of digital finance. It is also stated that stablecoins are expected to be adopted by more businesses thanks to their reliability and ease of use. He suggested that this could lead to significant changes in global trade and financial transactions.
The famous billionaire stated that in addition to the expansion of stablecoins, regulations will also support the growth in this field. He stated that tighter regulations will increase the reliability of stablecoins and make them more widely accepted.
It is predicted that this rapid development in financial technologies will change economic dynamics and encourage more widespread use of cryptocurrencies in daily life.
In this context, evaluations on the future potential of stablecoins show that financial markets will play an important role in the digital transformation process.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
