Maybe circle, which is only 1/5 of stablecoin market...Tether is private and will probably dominate in the coming years because:

1. no one in the USA has a use for stablecoins

2. no one outside of the USA would use circle when Tether is much more widely accepted - maybe the USA will figure out how to hobble Tether

3. as pointed out by Saifedean Ammous, there is not enough bank deposits in the entire world that would make a tiny dent in US debt even if they were all bagholders - scamming all of them into stablecoins would lower government interest by a fraction of a %

--nationalization of Strategy (the only treasury company that matters):

by the time enough people in government realize what is happening with Bitcoin- lets say 10 years from now when most of the dinosaurs are dead and replaced - Strategy's board of directors will be picking the presidential cabinet, just like Citigroup did in 2008 for Obama. In otherwords, it will be too late to nationalize Strategy when they are already running things.