Stablecoins Could Add Fiscal Fragility
Stablecoins could add hidden stress to Treasuries
Sep 24, 2026 · 1 hr 55 min · 23 segments
Grace Remington and Sean Hagan break down #GlobalMacro, #AI market impacts, and #Bitcoin #VC on #BitcoinMagazine TV (BMTV). Live Monday through Friday at 9:30am ET. Guests: \- Jeff Booth — Ego Death…
Saifedean AmmousGuest
Grace RemingtonHostJeff BoothGuest
Kosta OuzasGuest

And the key thing here is that even though Tether puts only a small percentage of its reserves in Bitcoin, because Bitcoin is so much smaller than the US debt market, that impact on the Bitcoin market is a lot more significant than the impact that they have with the majority of the reserves going into the debt, uh, the US government debt.

So the US government has got some $37 trillion in debt, which is enormous.

So a tiny amount of money going into Bitcoin causes it to go up a lot more than the same amount of money going into the bond market.

That causes the Tether reserves to appreciate, and that then ca- helps them revalue their currency further and further and further.




And the key thing here is that even though Tether puts only a small percentage of its reserves in Bitcoin, because Bitcoin is so much smaller than the US debt market, that impact on the Bitcoin market is a lot more significant than the impact that they have with the majority of the reserves going into the debt, uh, the US government debt.

So the US government has got some $37 trillion in debt, which is enormous.

So a tiny amount of money going into Bitcoin causes it to go up a lot more than the same amount of money going into the bond market.

That causes the Tether reserves to appreciate, and that then ca- helps them revalue their currency further and further and further.


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Stablecoins Could Add Fiscal Fragility
Stablecoins could add hidden stress to Treasuries
Bitcoin Mining May Have Peaked
Saifedean argues Bitcoin mining may have peaked
Debt Crisis Could Bring Conflict
Jeff Booth says debt crises can become wars
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