Will Tether Crash Bitcoin?

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In this video, I discuss the relationship between Tether (USDT) and Bitcoin, including the questions of Tether's backing as well as possible risk scenarios for Bitcoin if Tether were to fail.

According to Tether's own recent disclosures, USDT is not fully backed by USD cash and T-Bills. Rather, it has a significant mix of risky assets, including commercial paper, fiduciary accounts, corporate bonds, and even precious metals.

Holding USDT is risky, in my opinion, for this reason.

USDT does not pose a risk for the Bitcoin ecosystem. In fact, if USDT were to fail, there would almost certainly be strong upwards price pressure on Bitcoin as traders sought to dump their USDT for USD and BTC.

The only money printing pumping Bitcoin is the central banks'. Bitcoin has no top, because fiat money has no bottom.

Not investment advice! Consult a financial advisor.

Cryptos by market cap:
https://coinmarketcap.com/

Tether:
https://en.wikipedia.org/wiki/Tether_(cryptocurrency)

Eric Rosengren's presentation:
https://www.bostonfed.org/news-and-events/speeches/2021/official-monetary-and-financial-institutions-forum-fed-week-financial-stability-session.aspx

USDT is being used as collateral in DeFi, including DAI protocol:
https://twitter.com/colegottweets/status/1303453132157079560

Watch the USD money supply grow:
https://fred.stlouisfed.org/series/M2SL

Watch the USD lose purchasing power:
https://howmuch.net/articles/rise-and-fall-dollar

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I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#Tether
#BitcoinNews

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