While some view bringing stablecoins and other assets onto Bitcoin as an impediment to its progress, others see them as key stepping stones on the way to hyperbitcoinization.

With the total market cap of stablecoins exceeding $150B and with many users in emerging markets considering them a crucial lifeline, it’s hard to argue that they’re going away any time soon.

Proponents argue that supporting additional assets will bring more users onto the Bitcoin network who have historically needed to rely on other blockchains. 

Since early 2023, we have seen the rise of metaprotocols such as Ordinals and, more recently, Runes which have provided a way to create new assets on…

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