Oddbean new post about login | logout What does a world where tether surpasses gold’s market cap? Let’s say tether goes to $15 trillions. What happens?
US government pressures Great Britain into selling the company and USDT becomes a CBDC
Well, gold is 18T. By that time, gold could be 25 or 30T. So, I think two decades from that. However, I do see large adoption from non westerner countries adopt stablecoin so that can on ramp to western banking and financial system.
Well I guess that would put Tether in possession of something like 1/2 the US debt. I don’t remember how it ends, but I’m pretty sure that was the plot of a Bond movie… or maybe it was all Bond movies.
@LynAlden 👀 from a novice perspective it looks like that will happen since nothing stops the dollar inflation train, and demand for dollars seems high globally. Plus the gov needs a buyer of debt. What would be really interesting is if he keeps sweeping his profits into bitcoin and what that kind of demand pressure would do.
1 tether equals 1 dollar. Paulo Arduino becomes the richest man in the world. Everything else stays the same. (Jeff Bezos cries a little bit)