*your I am not changing topics, my point is that when you see a price of $15000 on the exchanges, what you are actually seeing is mostly btc/usdt pairs, that i

*your I am not changing topics, my point is that when you see a price of $15000 on the exchanges, what you are actually seeing is mostly btc/usdt pairs, that is, you are getting 15k usdt for a bitcoin, not USD. You can see it in e.g. https://coinmarketcap.com/currencies/bitcoin/markets/ https://coinmarketcap.com/currencies/bitcoin/markets/ It is currently pegged 1:1, so you can exchange it for actual US dollars for the most part, which allows exchanges to claim that USDT=USD and they merge them all into a single thing. But there is no reason to believe USDT is actually equal to USD as they keep printing billions of them without any proof that there's any real money behind it.