Tether surpasses Canada and Taiwan as a buyer of U.S. Treasury securities over the past year.
In 2024, Tether emerged as the world’s seventh-largest buyer of U.S. Treasury bills, surpassing countries like Canada, Taiwan, Mexico, Norway, and Hong Kong in the rankings.
According to CEO Paolo Ardoino in a post on X, Tether acquired over $33.1 billion in U.S. Treasury securities. This figure places the company behind only six other global buyers, with the Cayman Islands leading the list with investments exceeding $100 billion.
However, Ardoino clarified that while the data for Luxembourg and the Cayman Islands include “all hedge funds buying into Treasury bills,” Tether’s figures represent the investments of a single entity.
Tether’s investment in U.S. Treasury securities is a strategic move, using these assets as additional backing for its dollar-pegged stablecoin. Treasury bills are considered among the safest and most liquid investments available, as they are short-term debt securities issued directly by the U.S. government.
