Coatue Founder Explains EMW2025 Report: Bitcoin's Asset Status Surges, Stablecoin System Benefits Stand Out

ChainCatcher news, at the recent EMW2025 conference, Philippe, co-founder of Coatue Management, and Thomas Laffont were interviewed by the podcast BG2, providing an in-depth interpretation of the valuation logic of encryption assets, the development trends of stablecoin, and their institutional significance, based on their latest market research report. Philippe stated that Bitcoin is gradually evolving into a "corporate-level asset," with a current market capitalization of about $2 trillion, which still accounts for a low proportion of the nearly $500 trillion in global net assets, indicating further upside potential. He predicts that as institutions gradually accept its volatility, Bitcoin's market capitalization is expected to rise to $5-6 trillion in the future, becoming a more systemically influential asset class. Thomas emphasized that the advancement of stablecoin legislation is an important milestone for the encryption industry, significantly reducing regulatory uncertainty. He anticipates that "interest-bearing stablecoins" will emerge in the near future, potentially issued by the government in different maturity versions, directly targeting global investors and reshaping the issuance mechanism and participation methods of sovereign bonds. The two founders pointed out that traditional VCs have a biased understanding of encryption assets after experiencing failures in early projects. However, with the widespread application of Bitcoin and stablecoins, the industry's valuation methods need to be more flexible, reassessing the trend value of leading assets. At the same time, stablecoins have gradually become the core tools for enterprise payments and fund scheduling, and the encryption market is shifting from "speculative logic" to "institutional recognition and practical drive."