The United States Treasury, that is, the part that takes care of the finances of the world's largest economy, recognized Bitcoin as “digital gold” in an analysis this Saturday.
In the report, the body highlights Bitcoin's role as a digital asset comparable to gold.
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Therefore, the thesis of the world's largest economy is that the main use of cryptocurrency is as a “store of value”. The comparison comes in a context of industry growth, in addition to a more favorable regulatory scenario after Donald Trump's victory in the country.
The president claims to be pro-market and pro-Bitcoin, and demonstrates this by choosing names that are very favorable to cryptocurrency for his administration.
As the Treasury report highlights, the digital asset and Bitcoin market has evolved in an impressive way. In this way, the market value that was just US$7 billion in 2015 has grown to an impressive US$2.385 trillion in 2024 at the time of the report's publication.
In this growth, Bitcoin leads, with a current market value of US$ 1.364 trillion, followed by other cryptocurrencies, which total US$ 855 billion, and stablecoins, which reach US$ 166 billion.
The analysis highlights that although the use of cryptocurrencies for transactions is still limited, its growth is mainly associated with investment and speculation. However, Bitcoin is different in that its thesis as a store of value has received validation from the state. According to the US Treasury, Bitcoin is already like “digital gold” in the decentralized financial ecosystem.
Stablecoins Bitcoin United States
There is still room to grow
Despite its rapid growth, the report is keen to point out that the cryptocurrency market is still small compared to other financial asset classes. The US stock market, for example, is valued at $50.787 trillion. While the global real estate market is worth $52.319 trillion.
U.S. Treasuries total $27.728 trillion, although stablecoin issuers like Tether are among the largest buyers of U.S. government bonds today.
The analysis highlights that Bitcoin's role has evolved to become a hedge against inflation and economic volatility. In this way, it has taken on characteristics similar to those of gold in the traditional financial market.
Furthermore, the report points out that advances in blockchain technology and the use of distributed ledger technology (DLT) have the potential to transform existing financial infrastructure. The report highlights how the technology can improve settlement and transaction processing.
The U.S. Treasury also acknowledges that the cryptocurrency market is still in its early stages, and is attracting growing interest in both decentralized assets and regulated stablecoins.
Stablecoins
Regarding stablecoins, the Treasury recognizes that they play a fundamental role in the digital asset ecosystem, mediating more than 80% of all cryptocurrency transactions.
