T. Rowe Price's head of digital assets stated that Bitcoin has become the core of discussions on currency devaluation

Blue Macellari, the head of digital assets at asset management giant T. Rowe Price, stated in an interview with Bitcoin Magazine that Bitcoin has now become the central topic in discussions about currency devaluation. She pointed out that bond vigilantes are making a comeback, U.S. Treasury financing is shifting from foreign buyers to domestic buyers, and the debt situations in Japan and Italy are not comparable to the U.S. buyer base.

Macellari has 20 years of experience in emerging market sovereign debt and distressed debt investing, and later was responsible for establishing T. Rowe Price's digital asset business. In the interview, she reviewed the evolution of internal discussions on digital assets within the institution, the considerations behind launching actively managed multi-token ETFs, and discussed the trends of asset management tokenization and automation, as well as the liquidity fragmentation risks brought by 24/7 trading.

Additionally, Macellari assessed whether the demand for stablecoins under the GENIUS Act represents a substantial change or is merely wishful thinking, and believes that devaluation trading has indeed driven institutional allocation to Bitcoin. She also mentioned that volatility can serve as a portfolio tool, and there are significant generational differences in Bitcoin allocation.