Tether Releases $250 Mln in USDT , Bitcoin jumps instantly

Tether issued 250 million tokens and bitcoin price shooting upward.

Tether (USDT) which is backed 1:1 by the US dollar, has issued 250 million tokens today, June 25, according to Omni Explorer.

In March Tether had released 300 million tokens, leading to a small price increase for Bitcoin (BTC). The move also was met with backlash from critics on Twitter, Tether had made the news when a new study compiled by the University of Texas suggested that USDT is behind Bitcoin price manipulation in 2017, but Tether’s CEO has denied it.

Charlie Lee Litecoin founder tweeted today that the 250 million USDT issuance can be compared to said sum in dollars being deposited to a cryptocurrency exchange, now we can see a price jump in BTC due to FOMO.

Currently Bitcoin is up 7 percent over past 24 hours, trading around $6,350
It may go further..