The US plans to consider stablecoins as a tool to maintain the dollar's global dominance, which may lead to positive changes for Bitcoin.
Supporting Dollar Dominance Through Stablecoins
US Treasury Secretary Scott Bessent stated the government will use stablecoins to ensure the dollar remains the global reserve currency. The White House summit highlighted plans to carefully consider the stablecoin regime.
US Strategy on Bitcoin Reserve
Shortly after the summit, President Trump signed an executive order establishing a Bitcoin reserve using cryptocurrency forfeited in criminal cases. This represents a shift in the government's approach to BTC.
Rising Bitcoin Investments from Stablecoin Issuers
Growing profits from stablecoin issuers could flow into Bitcoin investments, further strengthening its status as a store of value. Tether, the largest stablecoin issuer, announced plans to invest 15% of its net profit into Bitcoin.
US efforts to bolster the dollar's global position using stablecoins may simultaneously promote the growth of the Bitcoin market as a strategic asset.
