Bloomberg Intelligence strategist Mike McGlone forecasts that Tether (USDT) could overtake Bitcoin and Ethereum in market capitalization by 2026. McGlone highlights Tether's growing market cap, which has reached approximately $184 billion, as a key factor in its potential to reshape the crypto market hierarchy. He notes that Tether's stability and utility are attracting capital, especially in uncertain macroeconomic conditions. McGlone also presents a bearish outlook for Bitcoin, suggesting its price could fall to $10,000 if it fails to maintain levels above $75,000. He points to Bitcoin's historical correlation with equity market trends and current market volatility as indicators of potential further declines. Tether currently controls about 58% of the global stablecoin market cap, with its growth outpacing Ethereum's market cap of $272 billion.
Bloomberg Analyst Predicts Tether Could Surpass Bitcoin and Ethereum by 2026
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