Bo Hines, Chairman of the White House Presidential Advisory Board, projects that the crypto market capitalization could reach an astounding $15 trillion to $20 trillion if the Genius Act, a stablecoin bill, is signed into law by the president.
"This bill is expected to encourage large-scale capital inflow into the digital asset market, with the total crypto market cap potentially reaching $15–20 trillion," Hines stated in an interview with Mara CEO Fred Thiel, as reported by MARA's YouTube channel on Friday (July 4).
Hines further emphasized that the Genius Act would be a crucial factor in strengthening the US dollar's global dominance for decades to come, especially if it garners support from 15 Democratic representatives.
He also noted that the last time a similar piece of legislation like the Genius Act was passed was in 2018. If enacted, it would position the United States at the forefront of modernizing the financial system.
More specifically, Hines highlighted that the law would lay the groundwork for major developments such as tokenized public securities and 24/7 markets.
Disclaimer: Not Financial Advice (NFA). Do Your Own Research (DYOR).