The famous analyst says that Bitcoin’s height to a million dollars will make Tether the largest holder of the United States Treasury.
Widely follow the encrypted currency analyst Will Wu On Monday, Stablecoin has issued its issuance pregnancy Usdt/USD It will become our best pregnant once Bitcoin BTC/USD Hits $ 1 million per piece.
What happenedWu’s reaction to the X show was offered the increasing demand on Tether to US Treasury bonds, which were progressing before many sovereign countries.
“The crazy thing is when BTC reaches a million dollars, it is likely that Tether is the owner of the No. 1 Treasury”, expecting Wu.
The dollar coins such as USDT work as a bridge between the volatile cryptocurrency market and the traditional financial world. The high price of bitcoin can indicate an increase in interest in the broader cryptocurrency market, which increases the demand for stablecoins.
Tether Stablecoin supports $ 151 billion by maintaining cash reserves and cash rewards, more than 80 % of them consisting of US Treasury bonds.
Tether is close to the US Treasury of $ 120 billion, the company He said In the first quarter -confirmation report issued earlier this month. This makes the company a greater US sovereign debt from Germany and the United Arab Emirates, according to Treasury data. Last year, Tether ranked seventh in the seventh largest US Treasury bills.
Disclosure: 82 % of CFD retail accounts lose money
While the company regularly publishes the interests of its reserves, critics have argued that the full review by a major global company can verify the quality of its support.
Why do it matterWar Wu comes in the aftermath The advance of the genius lawAlso known as the Stablecoin Bill, in the Senate. This legislation can affect the role of Stablecoins such as Tether in the financial ecosystem.
Senator Bill immigrated (R-Tenn), the sponsor of the draft law stated that the legislation will ensure the domination of the US dollar and the demand for demand for the American treasury in the future.
Photo: Diamonds/shutter
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Slip: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
