pahueg on Nostr: In a recent interview with Bloomberg, Nic Carter calls for a $900k Bitcoin price, ...
In a recent interview with Bloomberg, Nic Carter calls for a $900k Bitcoin price, while denouncing the idea of a strategic bitcoin reserve happening.
How does this add up, you ask?
Well, Nic didn't have time to argue this but I think he’d agree that the growing entrenchment of stablecoins will make this inevitable.
Legalizing stablecoins in the US will open the door for more institutions to get involved, likely tripling the stablecoin market cap in no time.
As the stablecoin market cap expands, issuers will need to soak up more US Treasuries to back their stables. This demand will be met by increased Treasury issuance from the US government. And more US debt isissuance will lead to more monetary inflation down the line, which will primarily benefit Bitcoin's price.
This is the Bitcoin-Stablecoin-Flywheel-Effect that might very well take Bitcoin to $900k and beyond, given enough time.
See the chart below from a class I regularly teach 👇🏻
How does this add up, you ask?
Well, Nic didn't have time to argue this but I think he’d agree that the growing entrenchment of stablecoins will make this inevitable.
Legalizing stablecoins in the US will open the door for more institutions to get involved, likely tripling the stablecoin market cap in no time.
As the stablecoin market cap expands, issuers will need to soak up more US Treasuries to back their stables. This demand will be met by increased Treasury issuance from the US government. And more US debt isissuance will lead to more monetary inflation down the line, which will primarily benefit Bitcoin's price.
This is the Bitcoin-Stablecoin-Flywheel-Effect that might very well take Bitcoin to $900k and beyond, given enough time.
See the chart below from a class I regularly teach 👇🏻