ChrisLAS on Nostr: Bitcoiners may feel rugged, but zoom out: the U.S. sees stablecoins as a route to ...

Bitcoiners may feel rugged, but zoom out: the U.S. sees stablecoins as a route to dollar dominance, making everything else in crypto secondary.

Bitcoin doesn't need them; the stablecoin industrial complex does.

Bitcoin doesn't need anything from these people. But the stablecoin industrial complex (every major bank wants in) needs them badly. So, incentives were always going to align.

I don't think this means the Bitcoin Reserve idea is dead, but it does mean it's taking a back seat to what they think is the "bigger picture."