July 21, 2024

Barry Zilbert: “stablecoins from central banks will increase the value of bitcoin”

The head of Grayscale Investments and Digital Currency Group (DCG), Barry Silbert, believes that the issue of governmentstablecoins will lead to an increase in bitcoin.

He stated this at the Grayscale conference, atwhich discussed how bitcoin can be associated with the development of stablecoins, decentralized finance and digital currencies from central banks. According to Zilbert, the emergence of cryptocurrencies from central banks will positively affect the dynamics of bitcoin and will cause the interest of institutional investors.

“In the future there may be more than 80government-owned cryptocurrencies, which could trigger huge infusions of funds into financial systems where every institution can safely store and transact with these stablecoins. If such an infrastructure is created, it can be used for regular cryptocurrencies, including Bitcoin,” — Barry Silbert said in his speech.

In addition, the CEO of Grayscale expressedconfidence that even if central banks issue their digital currencies, they will continue to recommend that individuals use existing traditional financial systems. He suggested that it is unlikely to expect the release of stablecoins this year, but sooner or later this will happen, which will reveal the advantages and value of bitcoin as a digital currency.

It is worth noting that Zilbert lays bighopes only for bitcoin. He previously stated that in the long run, most digital tokens will not have any value and will not find real use.