Paxos CEO: Bitcoin won't be used for payments anytime soon

Time:2022-01-19 Source: 648 views Trending Copy share

In a Jan. 19 interview with CNBC, Paxos co-founder and CEO Charles Cascarilla said institutional interest will change a lot in 2022.

When asked if he would see more cryptoassets like bitcoin or dogecoin being used for payments this year, he was less optimistic.

Furthermore, Charles Cascarilla argues that money is a product that just doesn’t evolve fast enough as our lives change, adding that this claim is the reason for the surge in stablecoin usage.

The total market capitalization of stablecoins is about $173 billion, an increase of more than 400% over the past year. Cryptoassets are mainly used for speculation and are unlikely to be used as payment.

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