David Sacks: Stablecoin Bill & Trillions for US Treasuries 🚀

In a recent CNBC interview, David Sacks discussed the potential impact of the GENIUS Act, a proposed stablecoin regulation that could unleash trillions in demand for US Treasuries. Sacks noted stablecoins currently exceed $200 billion and, with legal frameworks, could dramatically boost Treasury demand. Tether already holds significant US Treasury securities, evidencing demand. The bill requires stablecoins to be backed by US Treasuries, enforcing new rules and oversight. Despite some concerns, especially around Trump's connections, the bill enjoys bipartisan support. Sacks emphasized the benefits of more efficient payment systems and bolstering dollar dominance. He also highlighted the administration's commitment to AI and infrastructure support.