Crypto tried to escape the US government. Now it helps fund it.
#Crypto #Bitcoin #CryptoNews #Investing #yahoofinance
Crypto tried to escape the US government. Now it helps fund it.
Crypto was supposed to end the dollar. Instead it built the dollar’s best distribution network. Stablecoins are now roughly a $300 billion market, almost all of it denominated in dollars, with reserves parked in short-term Treasury debt.
Scott Melker’s point is that a saver in Argentina or Turkey buying digital dollars ends up helping finance the US government, and Washington eventually worked that out.
He walks through the GENIUS Act, the Fed’s own conference on what stablecoins do to the dollar’s global role, why euro stablecoins never took off, and where Bitcoin still fits once the dollar has better software.
Timestamps
0:00 Crypto was supposed to kill the dollar
1:19 The dollar with better software
2:11 Why people actually choose digital dollars
4:12 Why Washington changed its mind
5:32 How a peso becomes Treasury demand
6:58 The caveats, including what this does not fix
8:18 Dollarization at internet speed
9:29 The problem for crypto purists
11:46 Where Bitcoin actually fits
14:04 The question Washington should have asked
#Bitcoin #Crypto #Stablecoins #Dollar #Treasury #YahooFinance #ScottMelker #DailyWolf
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