Bo Hines: Tether is expected to become one of the top ten buyers of US Treasury bonds this year
On February 12, news reported by The Block stated that Bo Hines, who previously served as a White House cryptocurrency advisor and is currently the head of Tether's US subsidiary, mentioned during a meeting with Bitcoin investors that Tether is expected to become one of the top ten buyers of US Treasury bonds this year due to the increasing demand for its flagship stablecoin USDT and the new compliant stablecoin USAT.
According to Tether's latest statement, 83.11% of USDT's reserves are US Treasury bonds, worth over $122 billion. Hines stated that this position has placed it among the top twenty holders of US Treasury bonds globally, positioned between Germany and Saudi Arabia. Notably, according to data from accounting firm BDO, Tether holds approximately $6.3 billion in excess reserves. Hines pointed out that Tether is also the "thirteenth largest holder of gold in the world," with approximately 140 tons of gold reserves.
✨$BTC
