Early Uber investor Jason Calacanis dey urge Tether make dem sell Bitcoin and hold U.S. Treasuries
Jason Calacanis, wey invest for Uber early and na big angel investor, don tell Tether make dem sell dia Bitcoin reserves and hold 100% U.S. Treasuries instead. Calacanis talk say if dem shift from Bitcoin go to U.S. government securities e go 'Americanize' Tether operations, reduce systemic risk and restore credibility by replacing volatile, less-transparent assets with safe, liquid, and transparent government debt. He also recommend make two independent audits from American firms to increase transparency. The article talk say Tether on-chain Bitcoin reserve na about 87,296 BTC (around $9.0 billion) and BTC na only part of Tether reserve mix wey include U.S. Treasuries, cash and other investments. Calacanis don warn before say Tether fit be 'black swan' because dem no get full audits and custodians dey opaque. The story mention S&P Global don downgrade USDT dollar-peg stability to 'weak' earlier, citing high Bitcoin holdings, lack of full audits and non-transparent counterparties. The piece highlight wetin fit affect market stability and the ongoing scrutiny over stablecoin reserve composition.
Bearish
Di rekomend we make Tether sell dem Bitcoin reserves na go negative for BTC market for short term because e dey signal say regulatory and reputational pressure don increase for the biggest stablecoin issuer and e dey raise question about how dem reserves take dey composed. If Tether come liquidate or sharply reduce the ~87,296 BTC reserve (~US$9bn), selling pressure fit increase, at least short‑term, especially for times we liquidity thin. The call for U.S. Treasuries and independent American audits still dey raise chances of regulatory scrutiny and more demand for conservative reserve assets, wey go reduce crypto exposure from a major counterparty. Historically, announcements or moves wey mean big custodial sales (or regulator requests) don cause short‑term bitcoin price declines (e.g., big corporate sales or liquidation events). For medium to long term, enforced or voluntary moves toward fully liquid, transparent reserves fit reduce systemic counterparty risk and boost market confidence for stablecoins — fit be positive for wider crypto adoption — but immediate reaction likely bearish because of possible spot selling and higher perceived risk. Traders make dem watch on‑chain flows from known Tether addresses, OTC liquidity reports, and any confirmation from Tether on reserve policy or audit commitments; make dem use stop‑loss management if big outflows show.