Jeremy Allaire, head of the main operator of USD Coin (USDC), says it is unlikely to make a consistent Bitcoin (BTC) forecast. In his latest CNBC interview, the Circle CEO said, “Can the Bitcoin price reach $100,000 before December 31st?” He answered the question by saying that the probability is low. Here are the details…
Famous CEO says it is difficult to predict Bitcoin price
Over the past few months, several cryptocurrency analysts and influencers have predicted that Bitcoin could hit above $100,000 by the end of 2021. This includes veteran crypto trader Tone Vays, Plan B known for its S2F model, crypto entrepreneur Bobby Lee and Bloomberg commodity strategist Mike McGlone. Jeremy Allaire, CEO of USD Coin (USDC), says $100,000 is tough for December. According to Allaire’s predictions, stablecoins pegged to the world’s leading fiat currencies could be a “critical building block” of the decentralized internet, also known as Web 3.0. The Circle president thinks a decentralized internet offers an opportunity for the US dollar to dominate the internet. Allaire expressed his views in his most recent CNBC appearance:
3.0 for the web will be a critical building block, representations of major currencies, the dollar will be a leading currency. There is an opportunity for the US to lead. To lead the blockchain is to lead to make sure the dollar is the currency of the internet.
Other than that, Allaire says stablecoins need federal regulations to operate firmly and within the law:
Of course we need security and robustness. We should have rules about protecting against financial crimes. We obviously need federal laws to identify such large-scale stablecoin issuers like Circle.
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