Sam Lyman: Stablecoins Could Drive $3 Trillion Demand for U.S. Debt

Commentator Sam Lyman argues that dollar-denominated stablecoins are creating new, global demand for U.S. Treasury debt, a dynamic he says benefits America more than it does Bitcoin.

In a piece for Bitcoin Magazine, Lyman described stablecoins as “like Starlink for the US dollar system,” providing global access to the dollar via an internet connection. He noted that because major stablecoins are backed by U.S. Treasuries, buying them is “effectively buying U.S. treasuries.”

Lyman cited estimates projecting the U.S. stablecoin market could surpass $3 trillion by 2030, which he framed as “$3 trillion of new demand for U.S. debt.” He suggested this setup could help shore up demand for U.S. government bonds.

The commentator also described stablecoins as “a gateway drug to Bitcoin” and argued the long-term trajectory benefits the United States, stablecoin users, and Bitcoin itself. His central thesis, as highlighted in the article’s title, is that “Bitcoin doesn’t need America. America needs Bitcoin.”