How Stablecoins Could Unlock a $2 Trillion Wave Into U.S. Treasurys
Stablecoins could drive $2T in demand for U.S. Treasurys—transforming both crypto and government debt.
In a bold new take, investment strategist and former Soros Fund Management CIO Scott Bessent claims that stablecoins could generate up to $2 trillion in demand for U.S. Treasurys. The reason? Trust, scalability, and the global thirst for dollar-backed stability.
Stablecoins—cryptocurrencies pegged to fiat currencies like the U.S. dollar—require safe, liquid reserves to maintain their value. As adoption soars, the natural destination for those reserves becomes U.S. government debt, particularly short-term Treasury bills. According to Bessent, this shift could “revolutionize demand curves” for Treasurys, essentially turning stablecoins into a new kind of global buyer.
This isn’t just theoretical. Major stablecoins like USDT and USDC already park billions in T-bills. If the sector scales dramatically over the next 3–5 years, that demand could surge into the trillions—offering both stability for the crypto ecosystem and new firepower for U.S. debt markets.
