Also, Tether recently released about a billion dollar USDT and afterwards we saw the price of BTC surge above its previous price of 62k to 63 and currently 65k plus. This has made lots of crypto enthusiasts wonder if the billion dollar release by Tether is the driving force behind the resurgence of Bitcoin, what do you think about this?
What would Tether have to do with the bull run? In fact, printing more money is supposed to bring about inflation, which as a 1-1 peg with the dollar, is exactly what Tether is designed to do.
I'm pretty sure it's more about the impending halving than anything to do with other cryptocurrencies.
So, usually when people bring up this conspiracy theory, they say Tether is 100% fake money. They say the whole thing is fake and all Tether is printed out of thin air. Which is of course completely absurd because that would mean nobody has ever traded fiat for Tether lol.
The whole way stablecoins work is people exchange fiat for the stablecoin and then the issuer holds the fiat. So the idea that its all fake and is worth $0 is just stupid. And yet this idea has persisted for so many years among the intellectually challenged...to put it nicely haha.
Tether at least has a significant amount of backing, even if it is not 100% backed by stuff.