Bitcoin and cryptocurrencies are driving the dollar: panther

Against all forecast, Bitcoin (BTC) and cryptocurrencies, are consolidating the domain of the US dollar, challenging the predictions that announced their sunset.

Far from being a threat to the main world reserve currency, the stablecoins – digital actives designed to maintain a stable value— They are promoting the demand for dollars and consolidating their relevance.

This phenomenon, backed by regulatory and dynamic developments of the market, is redefining the role of cryptocurrencies in the global economy, according to a analysis of the Panther Capital firm.

STABLECINS: The bridge between cryptocurrencies and the dollar

Stablecoins have emerged as one of the most practical and transformative applications of cryptocurrencies. According to Panther Capital, these digital currencies, whose value is mainly anchored to the US dollar, represent “the most practical use of cryptocurrencies today.”

With a market that exceeds 250,000 million dollars, 98% of stablecoins are backed by FÍAT coins, predominantly the dollar, instead of algorithmic mechanisms and other cryptocurrencies. This support in dollars not only reinforces the stability of these digital currencies, but It also amplifies the global demand of the US currency.

For example, in emerging markets, Stablecoins allow people to save in digital dollars, protecting themselves against the rapid devaluation of their local currencies.

In addition, they facilitate rapid and economic international transfers, especially for migrants who send remittances to their countries of origin. While traditional remittance companies can collect rates equivalent to a month of salary, Stablecoins offer an affordable alternative, connecting 5,000 million smartphone users with the global financial system.

A channel for US debt

Beyond their practical utility, stablcoins are playing a strategic role by becoming a global distribution channel for US debt.

In a context of geopolitical tensions and weakening of confidence in the fiscal health of the United States, Stablecoins are promoting the demand for treasure bondsconsidered safe assets par excellence.

This dynamic becomes relevant at a time when the traditional demand for American bonds has decreased, as evidenced in the recent 20 -year bond auction, where low participation caused an increase in yields due to the fall in prices, says Panther Capital.

Tether, the USDT issuing company – the most used Stablecoin – has become a key actor in this scenario. The company is the 21st Holder of Treasury Bonds, with 120,000 million dollars in these instruments to the first quarter of 2025, surpassing countries such as Germany (111,000 million).

Together with USDC, issued by Circle, The two main stablecoins support a total of 177,000 million dollars in instruments related to treasure bondswhich would position them as the 17th largest global fork if they were considered jointly.

“We believe they will continue to climb on the list,” says Panther Capital, highlighting the growing weight of these digital currencies.

Regulation as a catalyst

The impulse of the stablecoins is not limited to the market; It is also being molded by regulatory developments in the United States. For example, the project of the Orientation and Establishment of National Innovation for Stablecoins (Genius Law) has gained bipartisan support in the Senate, reflecting a political recognition of the strategic potential of these currencies.

This legislation seeks to establish a clear regulatory framework for Stablecoins, an element that the digital asset sector has demanded for years. This framework would offer clarity and confidence to market participantsby addressing the uncertainties that have stopped the massive adoption of cryptocurrencies.

The administration of Donald Trump has emphasized the importance of the stablecoins backed by dollars, seeing them as a tool to extend the domain of the dollar in the global economy.

The regulation could also legitimize even more stable as one of the “murderous applications” of cryptocurrencies, says Panther Capital. This describes a term that describes innovations with a disruptive and generalized impact, comparable to the email for Internet or mobile applications for smartphones.

In addition, the Genius law arrives at a critical moment, after years of tensions between the cryptocurrency industry and the stock and values ​​commission (SEC), which has been accused of fighting a “war” against digital assets. A clear regulation would not only reduce uncertainty, but also attract institutional and retail investorsstrengthening trust in the crypto ecosystem.

The future of Tether and the dollar

The impact of the stablecoins on the global economy has generated speculation about their long -term evolution.

As Cryptonoticias reported, analyst Willy Woo has predicted that, If Bitcoin reaches one million dollars, Tether could become the largest treasure bond holdsurpassing all countries. This prediction is based on the relationship between Bitcoin’s growth and USDT capitalization, which depends on reserves in liquid assets, mainly treasure bonds, to maintain its parity with the dollar.

For his part, Saifeanan Ammous, author of El Patron Bitcoin, raises an even more bold scenario. Project that Tether could reach a capitalization of 20 billion dollars by 2035assuming an annual growth rate composed of 60%.

According to Ammous, if Tether invests 80% of his capital in treasure bonds, he could contribute to sustaining the strength of the dollar, but warns that this impact would be marginal against the budget deficit of 2 billion dollars and a public debt that approaches the 37 billion. “I would not move the needle in defense of the dollar,” he says.

Ammous also suggests that Tether could break his parity 1: 1 with the dollar, but not for a devaluation, but for an upward revaluationcreating a new hybrid monetary standard promoted by Bitcoin.

The company already It has 100,000 BTC And more than 50 tons of gold, assets that, according to the economist, could exceed the value of their reserves in dollars as the dollar depreciates and Bitcoin can be seen. “It is a matter of time that Bitcoin’s reservations of Tether are more than their dollar reservations,” he says.

A paradox for the dollar

The rise of the stablecoins raises a paradox: While cryptocurrencies were seen as a threat to the traditional financial system, today they are reinforcing the domain of the dollar.

When channeling the demand for treasure bonds and facilitating global transactions, Stablcoins are extending the scope of the US currency in a digital world. However, as Ammous warns, the sustainability of this model depends on Tether’s ability and other companies to adapt to an environment where the devaluation of the dollar and Bitcoin’s growth could redefine the rules of the game.

In conclusion, cryptocurrencies, Far from unfolding the global economy, they are acting as a vehicle to strengthen the dollarat least in the short term. With regulations such as the Genius law on the horizon and a market of expanding stablcoins, the future of digital assets seems to be intrinsically linked to the destination of the dollar, in a balance that could transform both the traditional and digital economy in the coming years.