With new money he would buy twice as much Bitcoin as gold (5% gold / 10% Bitcoin of a windfall): as Bessent’s 2030 stablecoin system turns daily life into a monitored “digital box,” the most interesting digital currency becomes the escape hatch — “you will understand and the price will be higher.”
Held in The Tucker Letter portfolio as the play on the stablecoin build-out: USDC issuer, the #2 stablecoin and the best-connected US operator, sitting on customer float invested in T-bills that the GENIUS Act forces every issuer to buy — own the biggest, not a pink-sheet microcap.
Loves owning it and keeps adding small skims of every gain (a kilo bar on the desk; wrote Why Gold? Why Now?), but the rally has happened — “about as much upside as my New York place” — so it is ballast in a balanced life, not where the next action is.
OpenUSD (bank-consortium stablecoin · not yet launched)
Bank stablecoin being formed by ~140 banks and financial institutions for a late-2026 launch, for interbank settlement (JPMorgan paying Wells Fargo) — proof the rails are going mainstream and that customers will be pushed onto stablecoins as “safer.”
The biggest stablecoin (~$180B of float) and the template for the business: T-bills at ~3.8% throw off ~$7B a year “for doing nothing”; always “a little bit on the edge,” and he does not know what happens to it as better-connected US issuers arrive.
In one line: the Treasury has a plan and it will probably work. Stablecoin reserves are a forced, growing buyer of T-bills, which lets Bessent manage long rates down through 2030. So don't bet on collapse. Own the rails (CRCL), keep gold as ballast, and put twice as much new money into Bitcoin as into gold.
Stablecoins are the new monetary plumbing. ~$400B today, "many, many trillions" to come. The GENIUS Act makes issuers hold ≤91-day T-bills, creating a structural bid for short paper, and 140 banks are launching OpenUSD. The $6B (triple-size) long-end buyback fits this plan; it is not a sign of distress. (2026-SEP-11)
Anti-doom by method. "There's probably not going to be a collapse" between now and 2030. The Fed actually shrank from ~$9T to ~$6T, and old QE-plus-housing-leverage "is sort of done." People who fought 20 years of QE "wasted a lot of time." It is also "not 1999" for tech.
Own the biggest connected operator. The float business is simple arithmetic (Tether ~$180B × 3.8% ≈ $7B a year). The Tucker Letter owns the #2 issuer, Circle, and avoids "microcap stablecoin pink sheet" stocks.
Gold yes, but Bitcoin for the marginal dollar. He loves gold, but its upside is "about as much as my New York place." From a windfall: 5% gold, 10% Bitcoin. Bitcoin is the hedge against life in a monitored "digital box," even though "there is no use case for Bitcoin."
Habits over home runs. Skim small slices of every gain into reserve assets, manage money as a "custodian," and judge results against the S&P (the newsletter's three cybersecurity names are up ~45% against +12%).
The product
Grounded only in what Tucker said about it on the 2026-SEP-11 appearance.
What it is:The Tucker Letter, E.B. Tucker's investment newsletter ("You can read the Tucker Letter. You can start today."). It runs a model portfolio of stocks he says "we own," publishes thematic issues (the stablecoin/Treasury issue the day before this interview: "you should read it right away"), and pointedly rejects doom investing: "we're not sitting around waiting for collapse with buckets of dried food." Subscriber complaints reach him by email. He is also the author of Why Gold? Why Now?
Offering
What it is
How he runs it
Seen in the index
Newsletter portfolio
Named stock positions held "in the newsletter"
Buys the biggest, best-connected operator in a theme rather than microcaps. Measures results against the S&P (three "pretty big" cybersecurity names averaging +45% against +12%).
CRCL (the cybersecurity names were not named)
Thematic issues
Macro and policy explainers tied to positions
Follows the policymaker's stated plan (Bessent's stablecoin / T-bill strategy to 2030) and finds the companies that benefit.
CRCL, Tether, OpenUSD
Allocation commentary
His own wealth-management habits
Small skims of gains into gold and Bitcoin (5% / 10% of a windfall), plus a "custodian" mindset.
BTC, Gold
Anti-collapse framing for retail. He tells readers to stop fighting the managed system and "get in on this." He argues the hyper-negative crowd "are just not going to make any money."
Size expectations. He pushes back on subscribers who want more than four times the index, and warns that chasing big returns ends in "junk stocks that go to zero."
Behavioural habits over tips. "What works is having good habits": small, regular skims into reserve assets and treating investing as "a distance race."
Transcripts
One dated page per appearance — each has its stock table, talking points, and the saved transcript. Newest first.