The definitive Tether & Bitcoin Article you have been looking for

  • The issuance of new tether
  • The backing of tether & its audit
  • The impact of tether on bitcoin price
Source of Captions: Tether Website via @Caspiancey on Twitter
  • The Fed and other Central Banks are engaging in massive monetary stimulus, which means that all financial assets (whether it is shares, watches, art, old cars, Gold, real estate or potentially even hockey player cards) rise in value. As bitcoin is a potential alternative currecny and all other potential alternatives are engaging in the same quantitative easing as the US Fed, it is logical that bitcoin benefits from this.
  • Instiutions are dipping a toe. While this may not be a huge amount of firms yet, order books on real US Dollar bitcoin exchanges are thin and an amount of 100–200m USD is difficult to fill without market impact. It is a myth to pretend that institutions are not experiencing some sort of FOMO here and aren’t buying spot. As a matter of fact, during the phases I marked as “Tether sends new prints to Binance” above in the chart, often times spot bids were driving parts of the rally.
  • Tether printing is having an effect. You can explain it any way you like, but a $10m send from treasury to unknown to binance has had the average effect of a $500 price rise in bitcoin over the time frame of the above chart. Of course there is an influence — people get USDT to buy bitcoin after all.

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Entrepreneur, Fund Manager, Ex-Consultant and Hobby Ice Hockey Player. Child of the Sun. Any opinions personal, never investment advice, sometimes parody

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DKCrypto

DKCrypto

Entrepreneur, Fund Manager, Ex-Consultant and Hobby Ice Hockey Player. Child of the Sun. Any opinions personal, never investment advice, sometimes parody

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