Bitcoin Strengthens the US Dollar by $38T Check on Debt, Inflation, Says Coinbase CEO Brian Armstrong
Key Takeaways:Bitcoin as a Market Check on Inflation and DebtWhy Bitcoin Doesn’t Replace the DollarBitcoin’s Role Is DifferentDebt, Inflation, and the Growing Case for BitcoinRising Debt Raises Long-Term Currency RisksMarkets Are Taking NoteBitcoin vs. Stablecoins in Dollar Dominance
Although Armstrong sees the indirect support of the dollar by Bitcoin, other industry leaders note the more direct support of USD dominance by stablecoins. Stablecoins pegged to the dollar, which are available in most areas with restricted access to conventional banking, extend the dollar into such areas. They raise the demand of US Treasury assets over the world, but introduce the dollar into the decentralized finances, payments, and remittances. The US government has not been left behind. Current regulatory frameworks look to formalize the issuance of stablecoins with dollar support. The market of stablecoins has already passed the mark of more than $300 billion, and forecasts indicate that in several years the market can go up to trillions.About Author
