Gabor Gurbacs: Foreign U.S. T-bill demand drops by $200 billion as stablecoin issuers rise

Gabor Gurbacs: Foreign U.S. T-bill demand drops by $200 billion as stablecoin issuers rise
U.S. T-bill demand falls, stablecoins rise

Gabor Gurbacs highlights a sharp decline in foreign net purchases of U.S. Treasury bills, dropping from $250.5 billion to $49.4 billion over the last 12 months—an 80% drop equating to approximately $200 billion in lost annual demand.

He adds that stablecoin issuers now collectively hold nearly $200 billion in U.S. T-bills and other near-maturity Treasury instruments.

Gabor Gurbacs previously commented on the importance of including USDT in analyses of USD stablecoins, highlighting its substantial market presence and liquidity in prior reporting. He also noted continued skepticism from some market participants, referring to Jason’s persistent bearish stance on Bitcoin across its wide price range in an earlier article. These observations provide context to his analysis of shifts in Treasury bill demand and stablecoin issuer activity.

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