Towards a meteoric rise of Bitcoin? Tether releases 250 million chips!
Bitcoin could quickly find an interesting value. The Tether, a second cryptocurrency considered a stabelcoin, helps stabilize its course or even back. The issue of 250 million chips of this crypto could mean a new upward start.
Will Bitcoin experience a dazzling surge of value? While cryptocurrency had fallen significantly, even below $ 6,000, its price could once again hit record highs. Or at least stabilize.
Tether, the return!
And for good reason, the stablecoin Tether has released 250 million chips. As a reminder, this cryptocurrency whose value of the token is indexed to that of the US dollar, is accused by academics, to manipulate the prices of the most famous cryptocurrency.
In short, John Griffin, professor at the University of Texas, published in 2017 a document in which he showed that massive purchases of Tether were noted when the course of Bitcoin was on the downward slope. The massive purchase of this second crypto whose value is fixed, then allowed to stabilize that of Bitcoin by buying tokens, or even increase it.
Charlie Lee, founder of Litecoin, has already commented on this announcement. He explains in a tweet that a rise in the price of Bitcoin is to be expected.
USDTs are printed when people deposit dollars and these USDTs will be used to buy cryptocurrency. It's similar to someone who deposits $ 250 million on a heat exchanger. Of course, that does not mean that they will be used right away. Do your own research.
The USTD still controversial
However, this action appears at the limit of legality and many doubt surround the Tether. In 2018, more than 2 billion tether are in circulation. However, no corresponding dollar has been supplied.
Moreover, it is the essence of this stablecoin that is questioned. Cryptocurrencies are supposed to be as transparent as possible. This has not always been the case with the Tether. In January 2018, the company cut off all communications with the inspectors supposed to certify the Tether. Doubts were then expressed about the existence of the dollars that must own the company.
To be continued. But one thing is certain, according to the latest statistics, the course of Bitcoin has finished its descent since the Tether were released, confirming that the two events coincide. It remains to be seen if a rapid rise is beautiful and possible.
