U.S. Senator Bill Hagerty: GENIUS Act will increase demand for U.S. Treasuries
US Senator Bill Hagerty recently stated that the GENIUS Act will increase demand for US Treasury bonds and strengthen the US dollar's status as the global reserve currency. The bill has passed a key Senate vote and will provide a legal framework for stablecoin issuance, requiring stablecoin reserves to be backed 1:1 by cash or short-term US Treasury bonds.
According to Citibank's prediction, stablecoin issuers may become the largest holders of US Treasury bonds globally by 2030, with holdings potentially reaching $1.2 trillion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
USDGO HodlerYield holding rewards promotion extended through October 31
Bitget PoolX is listing Concrete (CT) : Lock BTC to get 1,111,111 CT airdrop
CandyBomb x CT: Trade to share 560,000 CT
[Initial listing] Bitget to list Concrete (CT)
Crypto prices
More
