Thought of an idea
Before the LUNA crash, its market cap was 22 billion, and the UST issuance was 11 billion.
Now Circle has a market cap of 40 billion, and the USDC issuance is over 60 billion. If it continues to rise, it will approach the LUNA-UST ratio.
In this case, if Circle adopts a strategy similar to MicroStrategy, by issuing new shares/convertible bonds to continue raising funds and converting them into USDC for self-holding, it can benefit from both the dollar interest rates and the on-chain interest rates. They could even bundle this portion of assets into ABS to further leverage. In a very short time, the USDC issuance could surpass USDT to become the largest stablecoin.
It's a great regret that the two crypto geniuses, DK and SBF, are still sitting in prison during this cycle.
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