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Tether reported a huge $4.52 billion in profits made in the first quarter, confirming the huge footing the company holds in the global financial scene. The stablecoin giant holds $91 billion in U.S. Treasury bills, making it the 19th largest holder of treasuries in the world, right behind South Korea and Germany. Tether’s Bitcoin holding is also valued at $5.4 billion.
In a world in which even China has begun to pull back on its treasury holdings, Tether investments reinforce a new financial influence born by stablecoins. Former Speaker of the House Paul Ryan, for his part, sharply observed new demand for dollar-pegged monies and advocated for regulation to lock in the dollar’s place within the burgeoning field of digital assets.
This will change with major economies adjusting their treasury strategies, and the strong treasury engagement that Tether shows continues to solidify its market position and give additional strength to the US dollar in integration into the digital era, creating a reinforcing loop between the two.
