The growth of the leading cryptocurrency might be supported by the increasing issuance of stablecoins, according to Marcus Thielen, the founder and CEO of 10x Research. He believes that the ongoing issuance of major stablecoins like Tether and Circle could signal the influx of fresh capital from institutional investors into the cryptocurrency market. Over the past week, approximately $2.8 billion worth of stablecoins have been issued, which Thielen interprets as a bullish indicator for Bitcoin. However, he emphasizes that for Bitcoin to experience sustained growth, favorable macroeconomic conditions in the U.S. alone won’t be sufficient. Real cash inflows through stablecoins will be required.
