In recent weeks, major corporations have made headlines after announcing that cryptocurrencies could be used as payments. Recent adoption is the result of mainstream institutions doing an about-face on the value and validity of Bitcoin (BTC, Tech/Adoption Grade “A-”) and other digital assets.
And the implications are huge.
In this special five-minute video, crypto analysts Juan Villaverde and Alex Benfield weigh in on two of the biggest moves in crypto adoption, as of late. They also discuss how mass electronic transactions will affect crypto investors, and how crypto’s growing prevalence could affect us all as consumers and bank account holders.
Juan says it’s significant that Visa Inc. (NYSE: V) will now allow payments to be settled in the USDC stablecoin:
That is a big deal! And I think it’s being a bit overlooked by market observers. What this means is that USDC is now officially money you can spend with a merchant! A stablecoin is something that you can keep in your own wallet, personally. This token is better than having cash in your bank account.
Alex says that the Visa deal has built-in perks for crypto users:
For a lot of crypto users, they have to take steps in order to transfer or exchange their crypto into fiat, in order to actually spend and use that fiat. This is going to cut down a couple of steps for them. They’re going to be able to keep all their money in cryptocurrency. And they’re going to be able to earn interest on that USDC!
In this insightful video, Juan and Alex discuss:
• The competition that stablecoins will create in the private sector.
• How stablecoin transactions will drive up prices of other popular cryptocurrencies, such as Ethereum (ETH, Tech/Adoption Grade “A-”).
• The role of volatility in crypto adoption and the landscape at large.
• The blockchain mechanism that’s “fuel for the digital economy.”
And more!
The information in this short segment couldn’t be timelier. I suggest you watch it now.
Happy investing!
Jessica Borg
Financial Anchor
Weiss Crypto Ratings
