#news
The stablecoin boom:
Stablecoins now hold $149 billion in US Treasuries and making them the 18th-largest external holder.
These holdings have risen by ~$58 billion, or +64%, since Q1 2023.
Over the same time period, the market cap of stablecoins has doubled to a record ~$240 billion.
If the USD-based stablecoin market continues to rise, it will significantly increase demand for US Treasury bills, according to Apollo.
In other words, stablecoins may become a significant buyer of US government debt.
Crypto may be the answer for lower yields.