To put it simply, stablecoins have raised the upper limit of US bonds. The more stablecoins issued, the stronger the endorsement of US bonds. To put it bluntly, for example, the total market value of compliant stablecoins is currently $50 billion. If the stablecoin bill is passed and the total market value of compliant stablecoins rises to $500 billion, it means that an additional $450 billion worth of US bonds has been purchased. But the essence of stablecoins is not the purchasing power of cryptocurrencies. It can only be said that the higher the total market value of stablecoins, the higher the upper limit of the purchasing power of cryptocurrencies. However, more funds may still be used to obtain bond returns, but this is also a big problem. At present, it is the primary stage of monetary easing, and interest rates are still quite high. However, after one or two years, it has entered the stage of monetary easing. When the federal funds rate drops below 1%, the yield of US bonds will significantly decrease, and using stablecoins to buy US bonds will become low yield. There is a good example here, which is Tether and Circle. Tether has more and more funds outside of cryptocurrency.