Tether’s accumulation of United States Treasuries puts the stablecoin issuer on a path to enter the top five foreign holders by 2033 under a realistic acceleration case, based on current balances, stated purchase activity, and the moving threshold set by the U.S. Treasury’s TIC data.
The projection assumes Tether continues adding to its book at a higher annual net pace each year, while the fifth-place line among foreign holders continues to shift.
As of June 30, the firm held about $127 billion of U.S. Treasury exposure, split between roughly $105.5 billion of direct bills and $21.3 billion of indirect exposure.
This places Tether 18th in the list of foreign U.S. Treasury holders at present, and was the 7th largest buyer of 2024.
According to the same disclosures, Tether’s reported net additions in 2024 were $33.1 billion, which equates to roughly $2.8 billion per month. Quarter-to-quarter changes in early 2025 indicate a run…
