Many people ask why.
The short answer is because nothing stops this train.
The longer answer is that 1) the rest of the world isn’t buying as many Treasuries anymore, 2) investors prefer cash to T...
Yes, but if the rest of the world aren't buying as many treasuries in a traditional sense, what happens when they rotate out of their local fiat into US stablecoins? Tether et al are just dollar denominated debt - treasuries? And with 250,000 new adoptees every day are we going to see an explosion of liquidity in defi in the coming weeks/months/years that is laregely secured indirectly by stablecoins (treasuries)?
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