Bitcoin's Payment Dream Fades Amid Stablecoin Surge
MARA Holdings CEO Fred Thiel says Bitcoin has missed its chance to become a widely accepted payment method. As one of the largest corporate holders of BTC, with over 36,300 coins in his company's possession, Thiel believes that stablecoins are now better suited for everyday transactions.
In an interview, Thiel stated that businesses processing thousands of transactions per second cannot afford price swings, even if they are small. He noted that Bitcoin was originally designed as a digital currency but has since evolved into a different type of asset.
The market has changed significantly since Satoshi Nakamoto introduced the white paper, and stablecoins have become a more appealing option for payments due to their stable value. Thiel expects crypto payments, particularly those involving AI applications, to rely mainly on stablecoins instead of Bitcoin.