Tether Poised to Overtake Bitcoin Amid Macroeconomic Shift

Bloomberg Intelligence strategist Mike McGlone predicts that Tether (USDT), a dollar-backed stablecoin, may soon overtake Bitcoin as the largest cryptocurrency by market capitalization.

This shift is driven by macroeconomic tightening, which favors stablecoins linked to the US dollar over more volatile assets like Bitcoin and Ethereum.

McGlone foresees a significant correction in Bitcoin's price, potentially dropping to $10,000, which would accelerate Tether's rise.

The scenario challenges the traditional crypto hierarchy and raises questions about the future role of decentralized finance and digital assets.