In 1999, Elon Musk co-founded a little company called PayPal. Most people thought digital payments were crazy. "Who would trust sending money through a computer?" they asked. Fast forward 25 years. PayPal is worth over $60 billion. And now, Circle stock (CRCL) is doing something even bigger — they're not just digitizing payments, they're digitizing the dollar itself.
So who here is going to use a stable coin???? The GENIUS Act was passed on Tuesday and opens the door for the use of stablecoins by banks, fintech firms, retailers, and others. Stablecoins are cryptocurrencies whose value is tied to another currency or financial asset such as the U.S. dollar. The landmark ruling marks the first major legislation that deals with the digital currency industry that has been approved by Congress.
You're not likely to become rich or become a successful trader hunting for the next big promising stock to invest in and hold for the next decades,
Please enlighten me... So... money flows into stable coins... who don't move, just sit there at ~$1.00. What's the bit whoop about that? Are people going to pile in to a vehicle that is stable at 1:1 vs $USD and pays no interest? What's the attraction?
Its for those that live in countries that have unstable currencies or unstable governments.. Stable coins tied to the US is a great investment for them.
Why not just buy dollars vs buying some kind of crypto thing that is supposed to be based on holding dollars (on a promise)