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Any article about Bitcoin price should mention Tether and how $7B worth of these supposedly USD-backed tokens have been printed recently. There's no evidence th
by pavlov 6y ago
Any article about Bitcoin price should mention Tether and how $7B worth of these supposedly USD-backed tokens have been printed recently. There's no evidence that Tether is backed by anything, yet these newly minted cryptodollars are used to buy Bitcoin and thus pump up the price.
It's not that different from Fed stimulus creating money that ends up being used to buy stocks and inflating prices across the market. Fed does it in the open, Tether is doing it surreptitiously. Caveat emptor.
- aent 6y agoIt's mind boggling, few guys in some offshore company claim to be holding almost 17 billion dollars in cash somewhere when it was revealed they were kicked out of all the banks they attempted to use, and they keep printing money in the billions with no consequences
- tim333 6y agoIt is quite striking. If you look at the graph way more were printed recently than in the last boom https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/ I wonder if the end game has a Tether collapse?