White House Crypto Czar David Sacks Says One Catalyst Could Create Trillions of Dollars of New Demand for US Treasuries
President Donald Trump’s advisor on crypto and artificial intelligence (AI), David Sacks, is highlighting a catalyst that could dramatically increase demand for US treasuries.
In a new Bloomberg interview, Sacks says the passing of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) in the U.S. Senate and the potential signing of the piece of legislation into law offers “regulatory clarity and stability” for the stablecoin crypto sector.
According to Sacks, the GENIUS Act could trigger massive demand for US government debt from various parts of the world.
“… the [stablecoin] float is expected to grow from, call it, roughly $250 billion to trillions of dollars. And that would create…
