USDT Co-Founder Reeve Collins Claims Bitcoin Will Never Replace Money—Here’s Why
Reeve Collins, co-founder and first CEO of USDT, the world’s largest stablecoin, made statements in an interview that are likely to spark debate in the cryptocurrency world.
Collins stated that Bitcoin, by its very nature, cannot be used as a currency in daily trading, and that the future will be built on stablecoins.
Collins, who has been in the industry since 2013 and introduced the concept of the digital dollar with USDT to the world, delivered important messages about Bitcoin and the transformation of traditional financial systems.
Collins argued that when Bitcoin first emerged, everyone thought it would become a new currency, but that this would never happen. He stated that the main reason for this is Bitcoin’s extremely volatile nature, saying, “Nobody wants to do business with or buy bread from an asset whose value they don’t know what will happen tomorrow. Bitcoin might be a great store of value, but it doesn’t make sense as a currency.”
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According to Collins, by 2030, stablecoins will become the default of the financial system. However, Collins argued that this will be an infrastructure change rather than a name change: “People won’t even know they’re using stablecoins. They’ll just be spending their native currency in their digital wallets, but these transactions will be running in the background on blockchain tracks.”
In the interview, Collins stated that traditional banks and giants like PayPal and Venmo would have to adapt to this technology, warning, “If they can’t keep up with this pace, they will disappear.” He also described the Trump family’s interest in crypto and their own stablecoin initiative as a “legendary step,” adding that this paved the way for regulation.
*This is not investment advice.
Continue Reading: USDT Co-Founder Reeve Collins Claims Bitcoin Will Never Replace Money—Here’s Why
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