Bessant actually has a hard time convincing central bank reserve managers to buy more Treasury bonds. However, there's a large population in the Global South that lacks access to dollar-denominated financial services and desperately wants a positive-yielding dollar account. As you know, all fiat currencies are rubbish compared to Bitcoin and gold. Yet, within the fiat currency system, the dollar remains the best choice. Domestic regulators, who control the majority of the global population, force their citizens to hold high-inflation, low-quality currencies and restrict their access to the dollar financial system. These people buy Bessant's Treasury bonds simply to escape their own struggling domestic bond markets. So, can Bessant provide banking services to these people?
- 0 replies
- 0 recasts
- 0 reactions
Since the beginning of this year, the Solana ecosystem has exhibited a trend of "falling from a high before fluctuating upward." TVL and stablecoin holdings have shown a step-by-step upward trend. Currently, TVL stands at approximately $10.42 billion, and the stablecoin market capitalization is approximately $11.62 billion. This indicates that the on-chain "underlying USD liquidity pool" has returned to and stabilized in the tens of billions of dollars. On-chain transaction counts remain high, maintaining active "high-frequency/long-tail" trading. $SOL's total market capitalization fell sharply in Q1, but has since shown a wave-like upward trend. From a structural perspective, the resurgence of meme popularity has marginally improved DEX/chain fees, but has not yet returned to its peak for the year.
- 0 replies
- 0 recasts
- 0 reactions
Bitcoin consumes as much electricity as Argentina but isn't counted in GDP because it doesn't create traditional goods or services. The updated System of National Accounts classifies crypto assets as national wealth for better economic measurement.
- 0 replies
- 0 recasts
- 0 reactions