Bitwise isn’t alone in its bullishness on stablecoins with Circle CEO Jeremy Allaire predicting the explosive growth of the sector due to a “huge appetite” for digital dollars.
Bitcoin is poised to record a new all-time high of $80,000 in 2024, the same year stablecoins are set to collectively settle more money than payments giant Visa, says a Bitwise senior research analyst.
In a Dec. 13 post to X (formerly Twitter), Bitwise’s Ryan Rasmussen outlined ten bullish predictions for the crypto industry in 2024, with one of the major themes being the explosive growth of the stablecoin industry.
According to Bitwise, stablecoins will be used to settle more volume than Visa payments volume, describing the dollar and other asset-pegged tokens as one of crypto’s most “killer apps.”
