Bitcoin is suddenly bracing for a potential game-changer that could “unleash” trillions of tokenized dollars, according to financial experts and political figures. The cryptocurrency market has seen a significant surge this year, fueled by optimism surrounding the Trump administration’s pro-crypto stance. With Bitcoin trading above $100,000 since early May, having rebounded from a tariff-induced slump, all eyes are now on Washington as rumors of an “extraordinary” White House update and an imminent Federal Reserve announcement create a palpable sense of anticipation.
Stablecoin Legislation: The Key to Trillions
The central catalyst for this predicted market transformation is the Trump administration’s landmark stablecoin bill, which the U.S. Senate is poised to vote on. President Trump has vocally promised that this legislation will enable the U.S. to “dominate” the Bitcoin and crypto sectors, potentially opening up the crypto market to “trillions of tokenized dollars.” This week, the U.S. Senate voted 68 to 30 to advance the so-called Genius Act, designed to regulate stablecoins, setting the bipartisan bill up for a final vote scheduled for Tuesday, June 17.
Companies Eyeing Own Stablecoins
Adding to the potential disruption, some of the U.S.’s largest companies are reportedly considering launching their own stablecoins or forging partnerships with existing stablecoin firms. A Wall Street Journal report, citing anonymous sources, indicates that retail giants like Amazon and Walmart are exploring these possibilities. Additionally, travel company Expedia and unnamed airlines are also said to be looking into creating their own stablecoins to enhance transaction speed and reduce costs, particularly in anticipation of the expected stablecoin legislation. If individual companies opt to issue their own stablecoins rather than relying on those from Tether or Circle, or those being developed by Wall Street banks, it could fundamentally disrupt the entire financial system, potentially impacting traditional payment processing giants like Visa and Mastercard.
Meta’s Renewed Crypto Ambitions
Beyond the retail sector, technology behemoth Meta (formerly Facebook) is also making a notable return to the crypto arena. A Fortune report, based on anonymous sources, revealed in May that Meta CEO Mark Zuckerberg is planning to reintroduce crypto support for the company’s 3 billion global users, with discussions underway with crypto firms to introduce stablecoins specifically for managing payouts. This move signifies a renewed push into digital currencies for Meta, which is still recovering from its failed attempt to launch the Libra/Diem crypto-inspired currency in 2019, an initiative that was ultimately thwarted by global regulators.
