horse – Earlybirds Invest

United States congresswoman Marjorie Taylor Greene said that the GENIUS stablecoin bill creates a “backdoor” for the government to effectively create a central bank digital currency, veiled as privately issued crypto tokens.

The lawmaker said that regulated stablecoins feature “functional surveillance capabilities,” which make them indistinguishable from CBDCs. In a separate social media post, she added:

Rep. Greene’s comments echo a growing tide of individuals in the Bitcoin and crypto communities sounding the alarm on regulated stablecoins and the potential for these privately-issued tokens to become captured by the state.

The Bitcoin and crypto communities voice the same concerns

“The Genius Act forces stablecoins into CBDC compliance and control; functionally identical to a CBDC, without the scary name,” Bitcoin advocate Justin Bechler wrote in a July 19 X post.

Saifedean Ammous, author of “The Bitcoin Standard,” argued that the US dollar, in any form, is essentially a central bank digital currency that is already monitored by the state and increasingly digital.

“Governments realize that if they control stablecoins, they control financial transactions,” Jean Rausis, co-founder of the Smardex decentralized trading platform, said.

The executive added that the ability to freeze or rollback transactions and surveil centrally-managed stablecoins makes them indistinguishable from a CBDC.

The GENIUS bill was amended in March to include stricter anti-money-laundering provisions, sanctions compliance, and know-your-customer requirements, necessitating financial surveillance and the ability to censor transactions.

In October 2024, Curve Finance founder Dr. Michael Egorov told Cointelegraph that centralized stablecoins carry the risk of regulatory capture, including government seizure of the underlying fiat assets held in bank accounts or custodial institutions backing the digital tokens.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

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Bitwise CIO calls Bitcoin ‘best horse in the race’ to explain accelerated corporate buys https://earlybirdsinvest.com/bitwise-cio-calls-bitcoin-best-horse-in-the-race-to-explain-accelerated-corporate-buys/ https://earlybirdsinvest.com/bitwise-cio-calls-bitcoin-best-horse-in-the-race-to-explain-accelerated-corporate-buys/#respond Thu, 12 Jun 2025 02:05:23 +0000 https://earlybirdsinvest.com/bitwise-cio-calls-bitcoin-best-horse-in-the-race-to-explain-accelerated-corporate-buys/

Bitwise CIO Matt Hougan said the “megatrend” of public companies adding Bitcoin (BTC) to treasury reserves will continue accelerating as the movement is still in its early stages.

Hougan made the statement during a June 10 interview on CNBC, where he highlighted that 79 listed firms now hold roughly $57 billion worth of Bitcoin as of March-end.

Drivers and limits of adoption

Corporations have historically placed surplus cash in short-term Treasuries or bank deposits to store value. However, Hougan argued that unprecedented deficits and money creation now push finance chiefs to seek an alternative store of value.

He said:

“They [corporations] need another way to protect their wealth from degradation. And they’re turning to the best horse in that race, which is Bitcoin.”

Hougan added that equity markets have rewarded companies that disclose purchases, reinforcing the appeal of balance-sheet exposure.

Hougan linked corporate demand to rising confidence in Bitcoin’s role as “digital gold.” Binance Research’s June “Monthly Market Insights” report reiterated the fast growth.

According to the report, 116 public firms now control approximately 809,100 BTC as of May 31, up from 312,200 one year earlier. More than 25 companies have revealed new allocations since early April.

Average monthly buying exceeds 40,000 BTC, aided by recent entrants such as Trump Media, Nakamoto, GameStop, and PSG. Strategy remains the largest holder, making up nearly 72% of the total.

Renewed interest and outlook

Furthermore, the report noted that a fresh all-time price high near $112,000 “renewed corporate FOMO” as boards pursue both upside and inflation protection.

It also cited improving US regulatory signals and 2025 accounting changes that will allow fair-value treatment, removing impairment charges that once discouraged treasurers.

Hougan projected that corporate treasuries could exceed 1 million BTC by 2026 if current purchase rates persist. Meanwhile, Binance Research framed the target as attainable under stable macro conditions and continued regulatory progress.

Additionally, Bitwise CIO expects more cash-rich multinationals to diversify this year, as concerns about dollar debasement remain at the forefront of their minds.

He believes that this will eventually push Bitcoin allocations from a niche practice to a mainstream treasury management norm.

The Bitcoin and crypto communities voice the same concerns

Drivers and limits of adoption

Renewed interest and outlook

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