Anthony Pompliano, founder & CEO of Professional Capital Management, sees Tesla's TSLA latest advancements, including the autonomous Cybercab and Optimus humanoid robots, leading to an uptick in stablecoin usage.
What Happened: In a Pomp Letter on Substack from Oct.11, Pompliano wrote that "Bitcoin BTC/USD will be for saving economic value and stablecoins will be for spending." Cheaper and faster transactions on the digital rails of stablecoins could be the driver for the same.
Pompliano concluded, "If stablecoins become a big winner from the rise of robotics, then every crypto enthusiast will become a robot cheerleader."
In a Yahoo Finance interview on Monday, Pompliano stated that he envisions digital stablecoins acting as a checking account for these automated systems. He expressed optimism about the merging of automation and cryptocurrency, terming it a "multi-decade trend."
Also Read: Tesla-Themed Coins Spike After EV Giant Unveils ‘Cybercab’ Robotaxi — Why You Should Be Careful
These digital currencies could serve as a convenient medium of exchange for autonomous systems, simplifying transactions and integrating the worlds of automation and cryptocurrency.
Pompliano also observed that central banks seem open to the concept of stablecoin adoption, hinting at a possible transformation in the financial landscape.
The investor remains bullish on both automation and crypto, stating that when these technologies are more adopted, there will be some companies in each sector that don't work. Therefore, investors should be cautious "which individual companies or individual cryptocurrencies that you’re actually putting that capital towards.”
What’s Next: Anthony Pompliano will be a headline speaker at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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