Tether Could Become a Top-10 U.S. Treasury Buyer in 2024
Tether aims to hold over $122 billion in U.S. Treasuries by 2024, positioning it among the top global holders, reflecting its strategy to ensure liquidity and stability for its stablecoins.
USDT
Summary
Tether has announced plans to become a top-10 U.S. Treasury buyer by 2024, with over $122 billion in U.S. Treasuries, accounting for 83.11% of its reserves. This would place Tether among the top global holders, between Germany and Saudi Arabia. Additionally, Tether holds $6.3 billion in excess reserves and approximately 140 tons of gold.
Terms & Concepts
- Stablecoin: A cryptocurrency pegged to a stable asset, such as the U.S. dollar, to minimize price volatility.
- U.S. Treasury Bill: A short-term debt obligation issued by the U.S. government, typically maturing in one year or less, considered a low-risk investment.