Circle co-founder and CEO Jeremy Allaire says that he’s “insanely bullish” in his belief that crypto is in the very early stages of adoption.
Circle is the company behind the world’s second-largest stablecoin by market cap USDC. Allaire, who entered the crypto space in the early days of Bitcoin, says that in all the years he has been in the crypto space, this is the time he is most optimistic about its future.
“I have been building Circle for over 11 years, and at no time have I been more optimistic than right now,” he said via a post on X. “I also believe that the overwhelming majority of people have an extremely narrow and limited understanding of what’s unfolding. And that’s super bullish too.”
Why so bullish? Allaire explains
According to the Circle CEO, his perspective on the crypto market draws on his experience and knowledge over 35 years of watching the adoption life cycles of the internet technology.
It’s been a wave after wave of growth, with “an unrelenting march of open networks, open protocols and open software,” he noted.
Allaire says he’s seen the internet transform society and the economy, enabling major shifts for global industries and improving utility for humanity.
“The collective contribution of open IP to this ongoing internet revolution actually appears to be accelerating, and crypto seems like it’s on the cusp of catapulting society and the economy forward in tremendously powerful new ways,” the Circle co-founder explained.
Crypto in 10 years – past and future
He says crypto continues to grow since bursting onto the scene as the next infrastructure layer of the internet more than a decade ago. Crypto introduced a layer of trust for the internet, Allaire noted, adding that Bitcoin opened up the space for “a ton of incredibly sharp technologists.”
Technical progress includes the evolution of blockchain infrastructure, data availability, security and privacy. There’s massive breakthroughs in zero-knowledge technology and fully homomorphic encryption (FHE) among other developments.
Digital assets are now generally accepted, unlike the days of extreme hostility from banks, regulators and mainstream media’s focus on things like darknet markets.
Regulatory clarity is also a crucial development, with the world’s largest asset management firms bringing products and services on-chain.
Meanwhile, global payment giants also now tap into crypto and stablecoins have grown into cryptocurrency’s “clearest killer app.”
And it’s insanely bullish when looking at where blockchain and crypto could be in the next 10 years – for smart contracts, 4th generation blockchains, on-chain organizations and stablecoins.
“All of this is achievable over the next 10+ years. The time goes by fast, but when you zoom out and look at what has been accomplished and how that sets us up for the future, it’s hard not to be insanely optimistic right now,” the Circle CEO concluded.