Bitcoin Jumps After Fed's Remarks...Is "Stable Coin" coming up?

[Anchor]
Bitcoin, which has been on a high since Trump won the presidential election, has been soaring in price since the U.S. Federal Reserve hinted at adjusting the pace of interest rate cuts.

After the launch of Trump's second term, there are predictions that the stable coin market will grow relatively stable as it is linked to the dollar and U.S. government bonds.

I'm correspondent Lee Seung-yoon from New York.

[Reporter]
Bitcoin Hits High Expectations Of Deregulation After Trump's Presidential Victory,

But prices have jumped since the U.S. Federal Reserve announced that it cannot own Bitcoin.

In the meantime, the relatively stable stable coin market is growing as the exchange value is fixed in U.S. government bonds and dollars, and the price fluctuations are small.

U.S. cryptocurrency exchange Coinbase launches stablecoin USDC linked to U.S. Treasuries,

Recently, virtual currency ripple issuers have also launched stablecoins linked to dollars and others.

Experts say Trump will seek to stabilize the U.S. finances by increasing the dollar's influence and demand for U.S. government bonds through stablecoins.

[Kim Jwa-gyeom / Deputy Director of Bank of Korea's New York Office: In fact, a senior figure at the Fed predicted that the dollar's status will be very strong regardless of crypto assets, based on the fact that there are a lot of dollars linked in such stablecoins.]

Trump's son's recent visit to the UAE regarding virtual currency also adds to this observation.

[Eric Trump / Trump-elect son: Ethically, cleverly, we will proceed with a great sense of responsibility. We'll make a great deal.]

With the stable coin market expected to grow to $3 trillion over the next five years, the Korean government is expected to respond by watching the situation in the United States.

The stablecoin industry, including Coinbase, which is listed here on Nasdaq, is expected to mark a new leap forward with the launch of the second Trump administration.

However, experts advise that sufficient preparation is needed as changes in the regulatory environment can lead to rapid changes in market conditions.

I'm YTN's Lee Seungyoon from New York.