Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...
Billionaire investor Stanley Druckenmiller believes stablecoins and blockchain-based tokens could form the backbone of the global payments system within the next decade, even as he remains skeptical about cryptocurrencies functioning as long-term stores of value.
Speaking in an interview with Morgan Stanley recorded on Jan. 30 and released Friday, the former hedge fund manager said blockchain technology offers clear productivity gains in payments, particularly when applied to stablecoins.
“Blockchain and the use of stablecoins, if you want to throw crypto into that, tokens, incredibly useful in terms of productivity,” Druckenmiller said.
His views on blockchain adoption echo earlier comments he made in 2021, when he suggested that a decentralized payment system could eventually challenge the financial networks supporting the US dollar.
Last year, the passage of the GENIUS Act, a stablecoin-focused law aimed at establishing clearer rules for digital payment services, encouraged financial companies to explore blockchain-based settlement infrastructure.
Despite his optimism about the technology behind stablecoins, Druckenmiller remains unconvinced that cryptocurrencies such as Bitcoin serve a meaningful purpose as stores of value.
USDC emerged as the most-used stablecoin by transaction volume, processing $18.3 trillion, while Tether’s USDT handled $13.3 trillion, despite maintaining its lead by market capitalization at $187 billion.
