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People love using Tether to purchare BTC (and other cryptovalues). > over two-thirds of all Bitcoin — $10 billion worth of it — that was bought in the previous
by lou1306 5y ago
People love using Tether to purchare BTC (and other cryptovalues).
> over two-thirds of all Bitcoin — $10 billion worth of it — that was bought in the previous 24 hours, was being purchased with Tethers. [0]
Thus, it is not unreasonable to say the 1 Tether = 1 USD change indirectly affects (read: inflates) the valuation of BTC, and that a depreciation of Tether may have an impact on BTC.
[0] https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3 https://crypto-anonymous-2021.medium.com/the-bit-short-insid...