Bitcoin Market Cap Could Surge to $30,000,000,000,000 in 2030 To Allow US Government To Achieve Stablecoin Goals, According to Investor Luke Gromen
Macro expert Luke Gromen believes the US government’s goal to raise the stablecoin market cap to fund its fiscal deficits will propel Bitcoin (BTC) to astronomical price levels.
Earlier this month, U.S. Treasury Secretary Scott Bessent said estimates suggest that the stablecoin market cap could grow to $3.7 trillion by 2030.
According to Bessent, stablecoins will drive demand for US Treasuries, which “could lower government borrowing costs and help rein in the national debt.”
Stablecoins are dollar-pegged crypto assets, primarily backed by US Treasuries, and commonly used to buy Bitcoin and other cryptocurrencies.
In a new interview on The Julia La Roche Show, Gromen explains how the growth of the stablecoin market cap could act as rocket fuel for Bitcoin in the next five years.
“I think the US government sees stablecoins, they very clearly see it as a way to financially repress and create an ability to finance deficits at very low rates. Bessent can’t get $3.7 trillion or $2 trillion even in stablecoin T-bill buying over the next five years without Bitcoin probably being a multiple of where it is today.
It’s very hard to see a world where the stablecoin market cap is bigger than the Bitcoin market cap. As a practical matter, going back the last three or four years, whatever the market cap of total stablecoins, Bitcoin has never been less than two and a half times that, and it’s been as high as 10 to 12 times that.
So if Bessent’s talking about $3.7 trillion in stablecoins by 2030, in my opinion, he’s talking about $8 trillion – $9 trillion Bitcoin, up from $2.1 trillion today, or up to $30 trillion Bitcoin, up from $2 trillion today.
The US government now needs much higher Bitcoin to achieve its stablecoin goals.”
At time of writing, the stablecoin market cap is hovering at $253.2 billion.
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