#Treasury Chief Bessent Says #Crypto Will Lock Dollar Supremacy


Treasury Secretary Scott Bessent has declared that crypto adoption will cement the U.S. dollar's global dominance.


In an interview clip posted to X, Bessent said that #stablecoins could become among the largest buyers of U.S. Treasuries.


The Treasury chief added that crypto has a "very good chance" of locking in dollar supremacy worldwide.


His comments followed the Senate's passage of landmark #stablecoin legislation on Tuesday.


Major banks, including #JPMorgan Chase and Bank of America, are preparing to enter the stablecoin market.


Bessent predicted the dollar-backed stablecoin market could exceed $2 trillion within three years.


The current dollar-pegged stablecoin supply sits around $240 billion, according to industry data.


Bessent criticized the Biden administration's approach, saying that even more than trying to constrain crypto, they tried to "make it extinct.

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June 19, 2025 at 1:23 PM