Tether Now Top 22 Global Buyer Of US Treasury Bills, Surpasses Countries Like UAE, Australia

Paolo Ardoino, the Chief Technical Officer of Tether (CRYPTO: USDT), on Tuesday, said that the company now holds an exposure of $72.5 billion in U.S. Treasury bills.

This significant holding positions Tether as one of the top 22 global buyers, surpassing countries such as the United Arab Emirates, Mexico, Australia, and Spain.

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Ardoino’s announcement came as a response to discussions on social media about China’s diminishing stake in U.S. T-bills.

Reports suggest that China is gradually reducing its U.S. debt holdings and redirecting its funds into gold.

This shift in investment strategy by one of the world’s major economies underscores the changing dynamics in global finance.

Tether’s substantial holdings in T-bills were not entirely unexpected.

Earlier this year, the company disclosed its significant investments in these assets.

On July 31, Tether released a reserves attestation for its stablecoin USDT, revealing that it maintained up to $3.3 billion in excess reserves.

Also Read: Can Crypto Overtake Traditional Finance? $1 Quadrillion Market Cap Possible: Former Goldman Sachs Exec

Highlighting the significance and global reach of Tether, Ardoino tweeted, “$USDt is the most used stablecoin in the world, with a huge focus on emerging markets.”

He emphasized the critical role Tether plays in these markets, where individuals rely on USDt as a safeguard against the rampant inflation of their national currencies.

For many in these regions, Tether offers a financial lifeline, ensuring stability and protection for their assets and families.

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