BlackRock: Stablecoins Reinforce Long-Term Case for Bitcoin
Main Idea
BlackRock suggests that stablecoins could serve as a 'potential return diversifier' but predicts they will not significantly increase new demand due to money recycling and a flood of short-term debt.
Key Points
1. BlackRock views stablecoins as a 'potential return diversifier' but believes they will not drive new demand as money will be recycled.
2. The market is experiencing a flood of short-term debt, impacting supply dynamics.
3. In March 2024, BlackRock launched a blockchain-based tokenized liquidity fund investing in U.S. treasuries.
4. In 2022, BlackRock acquired a minority stake in USDC issuer Circle.
Description
The asset management behemoth is convinced that stablecoins actually reinforce the long-term case for the leading cryptocurrency
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