{"id":144583,"date":"2024-12-12T10:30:49","date_gmt":"2024-12-12T08:30:49","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144583"},"modified":"2024-12-12T01:04:37","modified_gmt":"2024-12-11T23:04:37","slug":"could-stablecoins-strengthen-the-us-dollar-and-challenge-bitcoins-dominance","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/could-stablecoins-strengthen-the-us-dollar-and-challenge-bitcoins-dominance\/","title":{"rendered":"Could Stablecoins Strengthen the US Dollar and Challenge Bitcoin’s Dominance?"},"content":{"rendered":"

Citi\u2019s report points out that cryptocurrencies like Bitcoin<\/a> <\/strong>were initially seen as alternatives to central bank-issued money, with some even speculating that Bitcoin could end the US dollar\u2019s reign. However, the rise of stablecoins, which now make up the majority of cryptocurrency trading, is challenging this assumption.<\/p>\n

The majority of stablecoins are tied to the US dollar, with their issuers maintaining reserves in US dollars and US Treasury bonds. Citi argues that as stablecoins gain more regulatory clarity and legitimacy, they could further cement the dollar\u2019s global standing rather than replacing it.<\/p>\n

According to the analysts, as regulations surrounding stablecoins become clearer, the demand for US Treasury bonds by stablecoin issuers may increase significantly. In fact, they suggest that stablecoins could make the US dollar even more accessible internationally, enhancing its dominance in the global economy.<\/p>\n