@orkun
Here are my thoughts on the question:
TLDR;
Will stablecoins become the Largest holder of USTs? I doubt it!
Will they be a significant player? Abso-frigging-lutely.
Full analysis: https://docs.google.com/document/d/1tnylGbQQVnijUoiPtKH2KR-3SxRmXi-5tNnjvKTNIcI/edit?usp=sharing
cc @parabol @emre /parabol