I’m with @npub1gdu7...6nak : Stablecoins don’t significantly contribute to net new demand for US treasuries, such that is strengthens the dollar and its reserve status - rather, stablecoins are more bullish for Bitcoin than the dollar.
If that triggers you, I suggest you watch this 14m presentation.
P.S. If you wait long enough, the bodies of Saifedean’s detractors eventually float by.
Thank you for your attention to this matter.
Login to reply
Replies (5)
I'll have to listen to this. Thanks for posting
That was spot on. I remember Kaiser having a similar take about usdt.
Shitty fiats being replaced by tether are already backed by US treasuries.
Bookmarked!
The narrative has an impact.
It's like when the Fed "jawbones" the market - they can influence the market without any actual policy change.
The bigger picture is the establishment of a pseudo-CBDC nightmare.