Tether, the cryptographic company behind the largest USDT of Stablecoin, said it would be located as the seventh largest net buyer of the United States Treasury values in 2024 among countries.
The firm bought a net value of $ 33.1 billion in values of the United States Treasury last year, according to a compilation published Thursday by the CEO Paolo Ardonio using data from the Tether Reserve reports and the United States Treasury Department.
That places the Stablecoin issuer over countries such as Canada, Mexico and Germany in the ranking, while Japan and China were net sellers by significantly reducing their treasure holdings of the United States.
The data underlines the case of the stable of the US dollar as a key demand force in the debt market of the United States government. The secretary of the Treasury, Scott Besent, said at the beginning of this month that Crypto and Stablecoins are key to preserving the global domain of the US dollar. President Trump echoed the argument on Thursday in a pre -recorded message at the Digital Assets Summit.
Read more: Crypto ‘will expand the domain of the US dollar,’ says Trump
The USDC of Circle, the second largest stablecoin and is fully supported by Values of the US government, in cash and other cash -equivalent assets, increased its market capitalization by $ 19 billion last year. The USDT market capitalization, which is predominantly supported by values of the United States government, grew by $ 45 billion during the same period.
