On April 25, 2025, the American financial conglomerate Citigroup published a report predicting that issuers of stablecoins could become one of the largest holders of U.S. Treasury bonds by 2030. According to the baseline scenario, the growth of the stablecoin market could add over $1 trillion in demand for these assets. With favorable regulation, their total capitalization could reach $1.6 trillion, and in an optimistic scenario, $3.7 trillion.
Citigroup notes that stablecoin issuers, such as Tether and Circle, are already significant holders of Treasury bonds. For example, in 2024, Tether entered the top 7 holders of U.S. government debt. The growth in demand for dollar-denominated assets backed by stablecoins may exceed the volumes currently held by countries like Japan or China.
However, the report also warns of risks: in 2023, stablecoins lost their peg to the dollar approximately 1,900 times, with 600 instances involving major projects. Instability could trigger a domino effect in the financial system. Despite this, Citigroup believes that 2025 will be a turning point for blockchain technology, predicting its mass adoption. Stay tuned for updates on #MiningUpdates
