|
|
|
|
|
|
by TimeBearingDown
1707 days ago
|
|
|
They’d prefer holding USDT to BTC. In this event we describe though, they may prefer selling for BTC or other cryptocurrency. They may not have the option of selling for fiat currency, as well, at least not right away. The assumption that an exit from Tether would lead to an exit from BTC is not necessarily well founded. |
|
|
People flock to stables/fiat when uncertainty/risk increases, yes? So you have a bunch of people ($70b worth) who are currently in USDT. Then you have to account for all the people currently in crypto who would sell into stables/fiat in a black swan event.
What's the argument against this? You say that the argument is not well founded. Ok, fine. I've outlined my argument. What's the counter? What's the line of thinking where USDT holders en masse flock back into crypto when the safe haven that they already wanted to be in implodes?