Experts discuss Trump's potential Bitcoin policies and the growing role of stablecoins within the context of the strengthening dollar.
Bitcoin's Prospects in US Policy
CryptoQuant CEO and founder Ki Young Ju believes that President-elect Donald Trump’s Bitcoin policies will depend on how the global investment community perceives the strength of the US economy and the dollar. Ju pointed out that store-of-value assets like gold and Bitcoin rise in price when investors feel US economic dominance is under threat. However, confidence in the dollar as a safe haven currency remains strong.
The Role of Stablecoins in Strengthening the Dollar
Paxos CEO Charles Cascarilla highlighted at the Bitcoin MENA conference that stablecoins will be central to the blockchain economy. They enhance the dollar's utility by combining fiat currency stability with the rapid and global reach of blockchain technology.
Stablecoin Use in High Inflation Countries
In countries like Turkey, where inflation hit 67% in March 2024, stablecoins have become vital. Turkey leads the world in stablecoin purchases as a percentage of GDP. Similarly, a 2023 Chainalysis report showed that over 50% of digital assets sent to countries like Argentina, Brazil, and Mexico were stablecoins.
Experts agree that Trump's Bitcoin policies may hinge on global perceptions of dollar strength, while stablecoins continue to play an increasingly significant role in the global economy.
