Crypto Biz: Step aside, Warren Buffett; stable coin issuers hold more US debt than Berkshire Hathaway

Stablecoin issuers Tether, Circle and others hold more short-term US Treasuries than Berkshire Hathaway.

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Warren Buffett raised eyebrows this week when his company, Berkshire Hathaway, increased its exposure to US Treasuries. If you're one of the few remaining bulls, Buffett's flight to safety is concerning as it signals that the Oracle of Omaha would rather earn a 3% return than play the stock market. If stocks go bust in the fall, as I've been predicting for months, expect Bitcoin (BTC) to follow.

Looking at the numbers, Berkshire's Treasuries exposure has grown to $75 billion at the end of June from $58.5 billion at the start of 2022. But even with the 28% spike, Berkshire does not hold as many T-notes as major stablecoin issuers. Stablecoins currently have a market capitalization of $153 billion, and a large percentage of their support comes from treasury bills. This is just another reminder that stablecoins are serious business.

Stablecoin Issuers Hold More US Debt Than Berkshire Hathaway: Report

Warren Buffett's Berkshire Hathaway holds a huge amount of short-term US debt. Well, stablecoin issuers hold more. According to data from JPMorgan, stablecoin issuers Tether, Circle and others hold $80 billion in short-term Treasuries, compared to $74 billion held by Berkshi...