On August 22, Juan Leon, senior investment strategist at Bitwise, wrote on X: "According to a report by Bloomberg, stablecoins currently hold about 1% of U.S. Treasury bonds, but this proportion may soon grow to 15%, becoming one of the top three holders. In the absence of regulation, the market value of stablecoins has risen from $0 to nearly $170 billion in a few years. Now, a stablecoin bill has bipartisan support in Congress, and Federal Reserve officials have recognized that stablecoins are a new tool that can increase the global influence of the dollar and support the U.S. Treasury market. With stablecoin regulation set to take effect in Europe in 2025 and the United States hoping to catch up, stablecoins will become increasingly embedded in the pipelines of the digital economy. As artificial intelligence agents become more common, stablecoins will become the preferred mechanism for digital commerce. The digital economy already accounts for 15% of the world economy and is growing 2-3x faster. Stablecoin usage is growing at an exponential rate, which means going from $170 billion to $1 trillion will be faster than going from 0 to $170 billion. $1 trillion in stablecoin Treasury purchases would dwarf the 10 largest money market funds and rank among the top 3 holders ($800 billion+).”