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Bitcoin Will Not Become A Means of Payment in The Near Future, Says The Head of Paxos

20 January 2022 15:45, UTC
Anna Martynova

Paxos CEO Charles CASCARILLA, in an interview with CNBC's Squawk on the Street, shared his opinion that bitcoin will not be able to become a mass means of payment anytime soon. He also noted that there will be many changes in the crypto industry in 2022.

According to Charles Cascarilla, a significant increase in interest in digital currencies is expected in 2022, as well as the massive introduction of virtual assets in many areas of human life. He noted that bitcoin is a tool for speculation, and people still trust fiat money more than digital ones, since money is a product that has been developing for several thousand years and has demonstrated its strength in the course of human evolution.

The capitalization of stablecoins has grown to $173 bln, that is, by 400% over the past year. According to the CEO of Paxos, stablecoins are likely to be partially used as a means of payment, but only after a regulatory framework is created for them.

Image: Coinphony