Unveiling Tether’s Secret: 7th Biggest US Treasury Buyer in 2024?

tether Surges as Major U.S. Treasury Investor

Tether, the issuer of USDT, has become the seventh-largest buyer of U.S. Treasury securities. CEO Paolo Ardoino announced on X that Tether purchased a net $33.1 billion in U.S. Treasuries in 2024. This places it ahead of major countries like germany and Canada. Tether’s global user base now exceeds 400 million, mostly in developing nations. As of March 21, USDT leads the stablecoin market with 62.45% of the $230 billion total supply, according to DeFiLlama data. Its market cap is $143 billion, nearly three times that of its rival, USDC.

Despite regulatory challenges, Tether reported a record $13 billion net profit last year. The company issued 23 billion USDT in Q4 alone, totaling 45 billion USDT in 2024. Though,a proposed stablecoin bill coudl limit offshore issuers’ access to U.S. Treasury markets, potentially benefiting U.S.-based competitors like USDC.

During a Bitcoin Policy Institute event, Ardoino argued that Tether’s investments strengthen U.S. debt markets. He stated, “We’ve done more for financial inclusion than anyone else.”

U.S. President Donald Trump and Treasury Secretary Scott Bessent advocate for stablecoin-friendly policies. Trump urged Congress to pass clear regulations to encourage institutional adoption. Tether’s financial strength was evident with a $13 billion net profit. Ardoino remains optimistic about Tether’s role in the U.S. Treasury market. He believes Tether’s investments diversify the U.S. debt markets. “If we were a country, we’d be the 18th largest holder of U.S. Treasuries,” Ardoino said.

Despite potential U.S. challenges, Tether’s global influence grows. USDT’s market cap is $143 billion, almost three times USDC’s $59 billion. Trump and Bessent push for stablecoin-friendly policies to maintain the dollar’s global dominance.