Bessent Says $2 Trillion Reasonable for Dollar Stablecoin Market
Treasury Secretary Scott Bessent said that dollar-linked stablecoins could hit $2 trillion or even more as he reiterated the potential for these digital assets to strengthen the greenback's position in the global financial system.
History is peppered with episodes when the dollar's status comes into question, only to for such fears to be repudiated as new dynamics provide the US currency with fresh impetus, Bessent, who specialized in foreign exchange during his hedge-fund career, said Wednesday.
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