Sam Lyman argues that “Bitcoin doesn’t need America. America needs Bitcoin” — and he sees dollar stablecoins as a key mechanism for strengthening demand for U.S. debt.

Appearing on Bitcoin Magazine’s show, Lyman described dollar stablecoins as “like Starlink for the US dollar system”: anyone with an internet connection can access the dollar. Because those tokens are backed by Treasuries, buyers are “effectively buying U.S. treasuries,” which he views as a way to shore up demand for U.S. government debt. That mechanism is structural: dollar stablecoins are tokens designed to hold a one-to-one peg to the dollar, with issuers backing them through dollar-denominated reserves such as cash and short-dated Treasuries. It is also why the sector’s growth draws attention around federal finances — the U.S. government raises funds by selling Treasuries, and a large stablecoin base would add a new pool of domestic demand for that debt alongside banks, funds, and foreign holders.

He cited estimates that the U.S. stablecoin market could climb above $3 trillion by the end of the decade — a figure he framed as “$3 trillion of new demand for U.S. debt.” For scale, the total stablecoin market today is measured in the hundreds of billions of dollars, so the scenario he cited implies a several-fold expansion of the sector.

Lyman also called stablecoins, “in many ways,” “a gateway drug to Bitcoin.” In his view, the current setup can benefit the United States, stablecoin users, and Bitcoin over the long term. The framing reflects a common on-ramp pattern: stablecoins give users dollar-equivalent balances with only an internet connection, frequently serving as a first step into digital assets before users explore Bitcoin and other crypto assets.

The episode ranged across related policy and technology themes. Segments covered America’s AI perception gap after the midterms; open-weight models as “the Bitcoin of intelligence”; whether open source will sink the AI economy; winning the AI race and foreign influence in the debate; a projected data center dividend of up to $9,000 a year; the impact of an AI data center moratorium on hybrid miners; crypto policy inaction until after 2028; stablecoins creating new demand for U.S. Treasuries; and a closing segment titled “When Agents Save, They Want Bitcoin.”

Per Bitcoin Magazine’s disclaimer, the views and opinions expressed in the show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. The content is provided for informational and educational purposes only and does not constitute investment, legal, tax, or accounting advice.

This post first appeared on Bitcoin Magazine and was written by Patrick Green.