6 ms·
>I'm more surprised that anyone still holds Tether, The price BTC shooting up right now (it is around $61k as I write this) is probably because lots of USDT ho
by ur-whale 5y ago
>I'm more surprised that anyone still holds Tether,
The price BTC shooting up right now (it is around $61k as I write this) is probably because lots of USDT holders are starting to realize what a bad idea that is.
If you were in their shoes ... what would you be doing right now?
- leppr 5y agoThe BTC price increase is because of rumors of a US BTC ETF being approved. The Tether fine is a non-event in crypto social networks.
- oillio 5y agoIf Tether holders were fleeing, they would be going into other stablecoins like USDC, not BTC.
- ur-whale 5y ago> If Tether holders were fleeing, they would be going into other stablecoins like USDC, not BTC. That's assuming other stablecoins are: a) actually backed up by non-risky assets, Quite a stretch. b) can easily be exchanged to USD in large quantities c) can be purchased with USDT Neither of these are particularly guaranteed to actually exist. If I was holding USDT right now (I am not, thank god), my preferred exit route would most definitely be BTC. And in very short order.
- mokanfar 5y agoFor the past 3-4 years, this has happened time and time again whenever tether is in the news in bad light. It's beginning to sound like a broken record at this point "this event is finally going to do tether in!" Nothing will happen like it did before, cryptocurrency doesn't operate the same way international law expects it to abide by. It's all rigged.