BitMEX co-founder Arthur Hayes predicts that by 2028, the total amount of USD-backed stablecoins in circulation will reach at least 10 trillion USD.
He believes that this explosion stems from the enormous budget deficit and the increasing borrowing rate of the US government, as more and more treasury bonds are issued to fund spending. This is seen as a rare turning point in a century for the global monetary architecture.
According to Hayes, the strong expansion of stablecoins will be the catalyst for a booming bull cycle in DeFi, especially in core areas that directly benefit from this influx of capital.$BTC