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Serious Question to the BTC Community (Not FUD): What Would Happen to the Price of BTC if Tether Collapses? Tether is Making the News Again With a Cover Article on Businessweek

Not trying to spread FUD. I am a long-term HODLer and interested in what the community thinks the impact on the price of BTC will be if regulatory scrutiny causes Tether to implode.

Businessweek article: [https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether](https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether)



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8 Comments

  1. So Tether won’t let you redeem. You’re left with tons of worthless USDT. What would you do? You fly to the safest asset that USDT may buy: BTC. Since USDT is now worthless, you’re willing to pay any amount of USDT to get BTC, so you enter market buy BTC/USDT. You want to get out at all cost! This drives up BTC/USDT price. Now for BTC/USD, maybe if you’re lucky to get some BTC from USDT, you’re panic so you market sell BTC/USD. Although it’s pretty unclear how BTC/USD would react. Maybe BTC/USD will later dump because everyone panicked and just want USD. Or maybe things don’t go as bad since not that many people can convert USDT to BTC (as USDT is worthless now). So maybe we’ll have just a few billions USD of BTC being dumped, which is pretty much normal.

What do you think?

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