There are reasons why Wall Street embraces Bitcoin. Because Bitcoin is seen by them as a potential reservoir for U.S. Treasury bonds (through stablecoins), viewing Bitcoin as a potential white knight for the dollar.
Even if it’s a case of drinking poison to quench thirst, one must first down this cup before discussing further.
Stablecoins are tied to U.S. Treasury bonds (i.e., the dollar), and if Bitcoin becomes a reservoir for stablecoins, it essentially becomes a reservoir for U.S. Treasury bonds. A continuous rise in Bitcoin can help alleviate debt (if the underlying assets are sufficient). Therefore, Bitcoin is now a partner of the dollar interest groups.
However, they have always been hesitant about doge, because doge's vision is to become a circulating currency, not just content to be an asset. Promoting doge is essentially an act of aiding the enemy.
$doge
🇺🇸 TODAY: The SEC delays decision on Bitwise Dogecoin ETF and Grayscale Hedera ETF, with new deadline set for November 12.
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