This comment seems a bit like ... 2018ish (I don't exactly remember when the Tether fud started). On which metrics do you base that statement?

Ok I propose one: Tether has a market cap of 157 bilion USD right now.

Bitcoin has a market cap of 2.3-2.4 trillion USD. Thus Tether cap is around 6,8% of Bitcoin's cap.

If Tether was 100% backed by Bitcoin, then we'd have around 1,36 million BTC. For me, a Tether collapse's price impact would be between the following two extremes:

- 6,8% of the price (i.e. go down to 110k$ again)
- a sales pressure from 1,36 million Bitcoins. Judging from past movements, I expect about 5% price decrease from each 100,000k BTC. This would mean about a 60-70% crash, or back to the 40-60k$ level approximately.

Tether collapse would for sure be a longer process, so while I can definitely imagine some 50%+ dip in the moment of "maximum panic", once the end of the bankruptcy process nears, the price would pick up again, because the Tether fud would be gone forever. I would not even discard the price being higher.

I expect a similar outcome if Satoshi sold his coins. First a significant dip, but then a recovery with potential even a price increase because the "danger" of "MILLIONS OF BTC SOLD!!!!" will be also gone. The same (slightly lower level) would be true for a Saylor bankruptcy.