Bessent Outlook on US Dollar Stablecoin and Bitcoin Policy

The rapid growth of the US dollar stablecoin

US Treasury Secretary Scott Bessent recently emphasized that US dollar stablecoins have the potential for rapid expansion, with a future market capitalization possibly exceeding two trillion dollars. He pointed out that this type of digital asset not only creates opportunities for financial innovation but also strengthens the position of the dollar as a global reserve currency, aligning with the US government’s strategy to maintain dollar hegemony.

Strengthening regulation and asset-backed legislation

Bessent is particularly focused on legislative requirements pushed by Congress that mandate USD stablecoins to be backed by high-quality assets such as U.S. Treasury bills or government bonds, enhancing market confidence and stability. Analysis agencies estimate that by 2030, stablecoins will become significant buyers in the U.S. Treasury market, further strengthening the robust foundation of U.S. fiscal policy.

Policy attitude towards Bitcoin

Regarding Bitcoin, Bessent stated that the government will not make new purchases, but the total value of Bitcoin that has been confiscated is approximately 15 to 20 billion dollars, which will serve as a federal strategic reserve. At the same time, he disclosed that the Treasury will explore budget-neutral methods to increase Bitcoin reserves, supporting the United States in becoming a global Bitcoin powerhouse.

Market Feedback and Impact

Bessent’s statement is seen as a friendly signal from the government towards the crypto market, and experts believe this will provide important support for prices, especially by removing major sellers from the market, which helps curb significant volatility. Compared to the market pressure from other countries confiscating Bitcoin, this move by the United States is viewed more positively as a means to maintain market stability.

Summary

The latest remarks from Treasury Secretary Bessent clearly indicate that the U.S. will actively promote the adoption of the dollar stablecoin through a dual approach of legislation and digital asset reserves, while stabilizing the market with Bitcoin reserves to pave the way for the future financial ecosystem.