History shows us that transformative technologies often fly under the radar until they suddenly reshape everything:

Now we're witnessing the next shift. Just as we moved from gold coins to paper money to plastic cards, digital currencies are positioning themselves as the next evolution of money itself.

Imagine if you had bought Amazon stock when the internet was just taking off, Apple when the first iPhone launched, or Tesla when electric cars seemed like a pipe dream. The stablecoin moment feels similar—but with important caveats.

Building trust in new financial infrastructure takes time. Even with presidential backing, centuries-old banking cartels won't disappear overnight. Think about how long it took for contactless payments to gain mainstream adoption, or how some people still prefer cash over cards.

Circle, the company behind the USDC stablecoin, perfectly illustrates this tension. Yesterday, shares spiked to $260 before closing at $223—a 15% drop in a single day. Wall Street analysts set year-end price targets around $130, yet the stock still trades at $230.

From its $31 IPO price, Circle has surged ninefold. But now comes the hard part: delivering on sky-high expectations.

Current analyst estimates paint a picture of extreme growth expectations:

These multiples look astronomical until you consider the growth trajectory. If Circle can maintain its current doubling pattern for five years, today's P/E could normalize to around 20x—making current prices reasonable.

Netflix traded at similar multiples from 2017-2021, averaging 73% annual EPS growth. The question is whether stablecoins can sustain that kind of expansion.

Stablecoins processed $33 trillion in transactions last year—a staggering figure that puts their scale in perspective:

Stablecoins are already handling one-third of Visa's transaction volume, and they're growing exponentially. The optimistic scenario sees them completely disrupting traditional payment networks with ultra-low fees and instant settlement.

Despite the existential threat stablecoins seemingly pose, payment giants aren't crumbling. Their stock prices continue climbing:

The reason? Network effects and institutional trust.

While Amazon and Walmart experiment with bypassing traditional payment rails, most businesses still want Visa's infrastructure. The company connects over 100 million merchants worldwide with decades of proven security and reliability.

In finance, trust trumps technology. Customers might use stablecoins for certain transactions, but they're not ready to bet their life savings on crypto-native payment systems—yet.

The Oracle of Omaha owns significant stakes in all three major payment networks through Berkshire Hathaway:

Combined, these holdings generated roughly $30 billion in gains this year (including dividends). If Buffett believed stablecoins would destroy these businesses, he'd have sold by now. His continued ownership suggests he sees these networks as complementary to, not threatened by, digital currencies.

Visa's fundamentals support this view:

The most interesting investment opportunities may not be in stablecoins themselves, but in companies that leverage stablecoin infrastructure.

When Netflix was scaling globally, Korean content creators made fortunes producing cost-effective shows. When those shows went viral on social media, Korean cosmetics companies unexpectedly became export powerhouses—riding the cultural wave Netflix created.

Similarly, stablecoin adoption will create unexpected winners. Looking at that $33 trillion in transaction volume, only $6.7 trillion went to actual payments. The remaining $26 trillion flowed through trading, finance, and other applications.

That's where the next generation of billion-dollar companies will emerge.

Rather than complete disruption, we're likely seeing the beginning of a long integration period. Traditional payment networks will adapt, incorporating stablecoin rails while maintaining their merchant relationships and security infrastructure.

Think of it like the internet's impact on retail. Amazon didn't immediately kill every physical store—it forced them to evolve. Walmart, Target, and others built successful online businesses alongside their brick-and-mortar operations.

The financial industry is following a similar playbook. Banks are preparing stablecoin offerings, payment networks are building crypto partnerships, and regulators are creating frameworks for coexistence.

The stablecoin revolution is real, but it won't happen overnight. The companies best positioned for this transition are those with:

The dot-com boom taught us that revolutionary technology often takes years to translate into sustainable profits. The companies that survive the hype cycle and focus on fundamentals typically emerge stronger.