US Push for Stablecoin Adoption Could Benefit Bitcoin

The United States is aiming to uphold the dollar's global dominance by embracing stablecoins, which could inadvertently benefit Bitcoin, the largest cryptocurrency. US Treasury Secretary Scott Bessent stated during the White House Crypto Summit on March 7 that stablecoins will be utilized to maintain the US dollar as the world's primary reserve currency. Bessent also reiterated the Trump administration's commitment to easing regulations on crypto and reversing previous IRS guidance. President Trump's executive order establishing a Bitcoin reserve using cryptocurrency seized in government cases marks a shift in the government's perspective on BTC. Additionally, the growing profits of stablecoin issuers, such as Tether, investing in Bitcoin could further solidify its position as a store of value.