Early Uber Investor Urges Tether to Sell Its Bitcoin Holdings
Analysis
Price Impact
HighThe recommendation for tether to sell its 87,296 btc holdings, valued at approximately $9.0 billion, represents a significant potential sell-off that could exert substantial downward pressure on bitcoin's price due to increased supply.
Trustworthiness
MedThe recommendation comes from jason calacanis, an early uber investor, and is supported by concerns previously raised by s&p global regarding tether's reserves and stability. while calacanis is a known figure, this is an urging, not an announcement of action by tether itself.
Price Direction
BearishThe news introduces bearish sentiment for bitcoin, as a major holder (tether) is being urged to divest its significant btc reserves. if tether were to act on this, a large sale would likely depress btc prices.
Time Effect
ShortThe news immediately creates bearish sentiment in the market regarding bitcoin due to the potential for a substantial future sell-off by tether, even if no immediate action is taken. investors may react to the perceived systemic risk.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Early Uber investor Jason Calacanis is urging Tether to fully stabilize and "Americanize" its operations, which he believes would restore the company's credibility and reduce systemic risk. Advertisement Specifically, he is recommending that Tethe sell all Bitcoin holdings. He argues that the leading stablecoin issuer should hold 100% U.S. Treasuries. In such a way, it would replace rather risky reserves with fully safe, liquid, and transparent government securities. HOT Stories Early Uber Investor Urges Tether to Sell Its Bitcoin Holdings Morning Crypto Report: XRP Unlocks Apple and Google Pay in 40 Countries, Shiba Inu (SHIB) Aims at 32% Upside, Bitcoin Options Spike to $13.1 Billion Crypto Market Prediction: Can Bitcoin Break $90,000 on Recovery March? Shiba Inu (SHIB) Fresh Rally Starts, Is XRP Building Bullish Momentum? Coinbase's Armstrong Angers Bitcoin Maximalists by Praising Ethereum's Buterin He has also argued that Tether should get two independent audits by American firms to demonstrate transparency. Advertisement You Might Also Like Fri, 10/24/2025 - 20:59 Tether Sets $15 Billion Profit Target as Margin Hits 99% By Caroline Amosun S&P Global recently downgraded USDT's dollar-peg stability to "weak" due to the company's Bitcoin holdings exceeding its safety buffer, no full audits being conducted, and non-transparent custodians and counterparties. According to on‑chain tracking, Tether’s Bitcoin reserve address is currently holding around 87,296 BTC. That BTC position is valued at roughly $9.0 billion. BTC is only a portion of the full reserve mix, which also includes US Treasuries, cash, and other investments. Longtime skeptic Back in 2021, Calacanis described Tether as potentially crypto’s "black swan." He argued that despite Tether being the third-largest cryptocurrency by market cap, its lack of transparency and the fact that it had never undergone a comprehensive audit made it worryingly opaque and risky. Earlier this year, Calacanis warned about the systemic risks posed by Tether and MicroStrategy due to their outsized exposure to cryptocurrency. Tether's flagship USDT token currently has a market cap of $185 million. #Tether News #Bitcoin News #Jason Calacanis