A businessman sees Bitcoin as the dominant payment method of the future A well-known businessman expressed the opinion that stablecoins are only a temporary financial instrument, while Bitcoin, in his belief, will become the dominant means of payment in the world in the coming decades. He believes that in 50 years, the need for USDT may disappear, as stablecoins represent only a more convenient way to move the dollar. At the same time, Bitcoin, in his opinion, is the most perfect form of money. The entrepreneur noted the importance of the recently adopted GENIUS law in the USA, which he considers a turning point in the regulation of stablecoins and an incentive for increased market competition. The CEO of Tether spoke about the growing popularity of USDT during the coronavirus pandemic, when residents of the Americas and Asia realized the possibility of storing dollars on their mobile devices. Currently, the coin, according to him, has become an economic survival tool for the population of developing countries. In the USA, Tether plans to cooperate with the social network Rumble, in which it has already invested $775 million. The partners are developing a non-custodial crypto wallet that will provide 50 million Rumble users with access to Bitcoin and USDT. Tether is accumulating billions of dollars in Bitcoin, developing mining, and holding 80 tons of gold in its own vault in Switzerland. USDT reserves mainly consist of US Treasury bonds, which allows the company to rank 17th in the world among holders of US government debt. It is worth noting that earlier, experts from the brokerage company Bernstein suggested the possibility of the USDC stablecoin from Circle prevailing over USDT in terms of capitalization, predicting a tripling of USDC supply within two years.
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