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A comment on Are pixie fairies behind Bitcoin's latest bubble?. Parent comment

Re:Are pixie fairies behind Bitcoin's latest bubble? by wmf on Sunday November 22, 2020 @10:28PM (#25183315)
You could have $13B of inflow to BTC with only $1B of Tethers because they should be reused. Who is holding them and why?
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Re:Are pixie fairies behind Bitcoin's latest bubble? by amycastor on Sunday November 22, 2020 @11:30PM (#25183602)
Who is holding USDT? Likely traders who went onto Bitfinex (Tether's sister company) and sold their BTC there for what they thought was a good price. BTC, in this scenario, is a bridge to USD, because it can be moved to an OTC desk or a banked exchange and sold for cash.
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Re:Are pixie fairies behind Bitcoin's latest bubble? by wmf on Sunday November 22, 2020 @11:57PM (#25183723)
So they're going to hold USDT until the crash, then re-buy BTC and move that out? Plausible, but it sure seems complicated.
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