Because Tether has been "minting" more Tether coins (recently added 2B in one week[0]) which they then use to buy Bitcoin, which in turn pumps the valuation of

Because Tether has been "minting" more Tether coins (recently added 2B in one week[0]) which they then use to buy Bitcoin, which in turn pumps the valuation of Bitcoin. If the backing of Tether is questionable, then they're just creating new money out of thin air, and so Bitcoin's market cap is artificially high - having been effectively purchased with monopoly money. I recently read an interesting article about the sketchy unregulated banks that Bitfinex / Tether are associated with. I'll try to find the link.[1] [0]: https://www.coindesk.com/tether-mints-record-2b-usdt-in-one-week https://www.coindesk.com/tether-mints-record-2b-usdt-in-one-... [1]: https://www.coindesk.com/think-stablecoins-are-solid-remember-the-financial-crisis https://www.coindesk.com/think-stablecoins-are-solid-remembe...