The Dual Role of Stablecoins and Bitcoin

This chapter examines the relationship between stablecoins and Bitcoin, discussing how stablecoins like Tether facilitate access to the US dollar while not diminishing Bitcoin's role as a growing asset. It explores the mixed governmental reactions to Bitcoin, particularly in countries like El Salvador, and evaluates its potential as a global reserve currency amid skepticism about its coexistence with the dollar. The chapter also highlights the influence of institutional investors on Bitcoin, particularly through ETFs, and the implications for Bitcoin ownership and market dynamics.

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