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Bitcoinist 2026-03-14 19:00:48

US Billionaire Backs Stablecoins To Take Over Payment Systems – Details

American billionaire and investor Stanley Druckenmiller has postulated that stablecoins will play a central role in the US payments system in the next decade. However, the philanthropist and former hedge fund manager remains skeptical about regular cryptocurrency. Stablecoins Drive Productivity, Druckenmiller Says In a recently released interview with Wall Street Titan Morgan Stanley, Stanley Druckenmiller shared his expert thoughts on several financial and economic subjects. When asked about the crypto industry, the veteran investor described blockchain and stablecoins as two inventions that are “incredibly useful in terms of productivity”. Druckenmiller boldly claimed that the US payment system would likely run on stablecoins within the next 10-15 years. Druckenmiller is the former chairman and president of Duquesne Capital, a hedge fund he founded in 1981 and closed in 2010 with an asset under management (AUM) of $12 billion. The experienced financial professional expects the potential full-scale adoption of stablecoins, stating they are “efficient, quicker, and cheaper.” Notably, these comments come months after US President Donald Trump signed the GENIUS Act into law, thereby establishing a recognized regulatory framework for the issuance and operation of stablecoins. This regulation has resulted in multiple developments, including Tether , issuer of the USDT stablecoin, to launch a US-focused product, USAT, designed to cater to the needs and peculiarities of the American financial system. Meanwhile, financial institutions, including JP Morgan, Citigroup, and the Bank of North Dakota, are actively developing a stablecoin product to tap into expected adoption growth. For context, stablecoins are cryptocurrencies whose value is pegged to an underlying asset, most commonly the US dollar. Crypto Not Needed? In his general comments on the cryptocurrency industry, Drunckenmiller describes these digital assets as an unnecessary invention. The veteran investor said: It’s a solution looking for a problem, I am very sad it ever happened as a store or value because it wasn’t needed. But it’s a brand that people love, so it’s going to be a store of value. Notably, when speaking about the US dollar’s role as the reserve currency of the world, the former hedge fund manager also stated the high potential of a replacement emerging in the next 50 years. While Druckenmiller has no specific picks on the new reserve currency, he has hinted at the potential of it being a cryptocurrency. At press time, the total crypto market is valued at $2.42 trillion, 13% of which is attributable to stablecoins.

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