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Burak Arikan
@arikan
According to Chainalysis, Turkey is the leading country for purchasing dollar stablecoins, accounting for 4% of its GDP. The US has found a new way to sell its debt through stablecoins, with issuers holding an equivalent value of T-bills. This strategy targets citizens of financially troubled countries like Turkey.
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Burak Arikan
@arikan
Why? Despite US debt being at an all-time high, China's holdings of US Treasury bonds are at a 14-year low. See how much countries hold in US Treasury bonds: https://ticdata.treasury.gov/Publish/mfh.txt The Chainanalysis Report https://x.com/mlphresearch/status/1800872612421406844
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