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Fred Ehrsam pfp
Fred Ehrsam
@fehrsam
Will stablecoins become the world's largest owners of US Treasuries? 💵 It seems possible that crypto stablecoins become the largest holders of US Treasuries in the world. Putting up $1000 for the one layer deeper analysis to support or debunk that thesis. @bountybot
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Fred Ehrsam pfp
Fred Ehrsam
@fehrsam
Thesis: - Stablecoins $150bn market cap - Probably mostly held in Treasuries - ~#16 on list of US Treasury holders today - Largest holders today: Japan $1.1tn, China $770bn (and declining) - Stablecoins will 10x in market cap in ~10 yrs - This could make stablecoin issuers one of largest global holders of Treasuries
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Gajesh pfp
Gajesh
@gaj
here's my submission :) https://hackmd.io/@l6OV13E3R_KkflLbCoIPKg/SyQX26vCa
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Idan Levin 🎩 pfp
Idan Levin 🎩
@idanlevin
Internet memes spreads in the speed of light US government wants to maintain USD dominance. Best strategy: stablecoins Conclusion: stables will spread over the internet and capture all US treasuries in the world
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
Ooh, great bounty. Created a negation game for it too https://negationgame.com/?ids=0x8b760d0cf99f7d16962a17ecc3f1757fca1176bd @bountybot add $20 USDC
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William Mougayar pfp
William Mougayar
@wmougayar
Why single out US Treasuries? I think the trend is toward a diversified basket of cash equivalent assets to back stablecoins. Related thesis would be that Stablecoins will penetrate a diversified set of assets, so pick a range of low-risk asset classes & predict respective % Stablecoin ownership.
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Michael pfp
Michael
@michaellwy
Here's my submission: https://docs.google.com/document/d/1xdnsVk-Q0h2Vrc_Ggaisqozr9vB1yMB8/edit?usp=sharing&ouid=101708739575855739206&rtpof=true&sd=true
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Jeremy Batchelder pfp
Jeremy Batchelder
@jeremybatchelder
Here’s my submission - https://docs.google.com/spreadsheets/d/15sxp6czHBSuJzfP3jcgp89pMo2VmzSr3ypXXkjGCxs8/edit?usp=sharing I think it’s important to clarify in the original post that 16th largest treasury holder should be in comparison to sovereign entities and not the federal reserve system, mutual funds, etc
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Liam pfp
Liam
@liam.eth
cc @nic
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nic carter pfp
nic carter
@nic
I think they can catch all nations other than Japan (1T), China (769b), and the UK (693b) within a year or two. Luxembourg is fourth at 345b and that's totally reachable. In terms of MMMFs, Fidelity is the largest at 1.3t and growing, followed by JPM (700b) and Vanguard (600b)
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Pierrick pfp
Pierrick
@pierrick
You are confirming our thesis at Mˆ0. ;) https://www.m0.org
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Giuliano Giacaglia pfp
Giuliano Giacaglia
@giu
Great bounty!
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Pierrick pfp
Pierrick
@pierrick
500 $degen
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paulx.eth pfp
paulx.eth
@paulx
Posting my submission and explainer thread here: https://warpcast.com/paulx/0x0645138f
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dayvoid97 🎩 pfp
dayvoid97 🎩
@kanchan
Stablecoins will have to beat the Federal Reserve to be the largest holders of Treasuries. I don't think that's veyr likely given the size and scope of the Federal Reserve.
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Boldrin pfp
Boldrin
@boldrin7
The marketcap is huge
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