Sam Lyman compares dollar-backed stablecoins to Starlink, as they allow users to access the dollar wherever they have an internet connection. Because they are backed by U.S. Treasury securities, these tokens effectively provide investors with exposure to U.S. government debt and help support demand for it. Lyman estimates that the U.S. stablecoin market could exceed $3 trillion by the end of the decade, creating $3 trillion in new demand for U.S. debt. He also describes stablecoins as a gateway to Bitcoin and argues that their growth can benefit users, the United States, and Bitcoin over the long term.
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