Bloomberg Strategist Predicts Tether Will Eventually Surpass Bitcoin
26 Jun 2026 · 17:57 UTC · U.Today RSS Feed · Original source
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Summary
Bloomberg Intelligence senior macro strategist Mike McGlone predicts that Tether (USDT) will eventually flip Bitcoin to become the world's largest cryptocurrency. McGlone characterizes this outcome as 'just a matter of time,' though the article does not provide detailed reasoning or timeline for this prediction.
Why it matters
Mike McGlone is a credible Bloomberg analyst, lending weight to his opinion, but the prediction is fundamentally speculative and based on unknown future developments. The mechanism would require either: (1) massive Bitcoin price collapse, (2) USDT becoming a non-stablecoin with extreme value appreciation, or (3) redefinition of market cap calculations. None of these are implied by current trends. U.Today's low credibility (0.45) further limits the impact, as the story may not reach key market participants. Bitcoin's institutional adoption, scarcity narrative, and proven track record work against this thesis. The statement could generate headlines and discussion but lacks concrete catalysts for immediate market impact. Key assumption: markets will dismiss this as unlikely speculation, limiting volatility. Uncertainty lies in whether Bloomberg's name recognition creates outsized attention despite the weak source.
Expected impact
The prediction that Tether (USDT) could eventually surpass Bitcoin in market capitalization is highly speculative and challenges fundamental assumptions about cryptocurrency hierarchy. In the short term, this commentary is unlikely to significantly move markets, as USDT's role as a stablecoin (maintaining ~$1 value) makes it fundamentally different from Bitcoin. However, the statement from a Bloomberg strategist could temporarily increase discussions about Bitcoin's dominance and long-term utility, potentially creating modest near-term volatility. Bitcoin could see slight downward pressure from sentiment that questions its primacy, while altcoins might see minor upward sentiment as the narrative suggests diversification from Bitcoin dominance. The realistic impact is limited because markets already understand USDT's function; the prediction requires extreme, arguably implausible future circumstances (USDT value inflation or Bitcoin collapse).