Re:The Bit Short: Inside Crypto’s Doomsday Machine
by dragonwriter on Friday January 15, 2021 @06:31AM
(#25789631)
> Why on Earth would $100 billion worth of Tether rushing for a conversion into anything else drag _down_ the price of BTC?
If USDT:USD collapses, BTC:USDT will naturally go up, but it's also quite likely that BTC:USD (whether direct or indirect) will go down, to the extent it has been inflated by artificially inflated USDT:USD.
If USDT:USD collapses, BTC:USDT will naturally go up, but it's also quite likely that BTC:USD (whether direct or indirect) will go down, to the extent it has been inflated by artificially inflated USDT:USD.