Who is holding USDT? Likely traders who went onto Bitfinex (Tether's sister comp... | Hacker News

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		amycastor on Nov 23, 2020 \| parent \| context \| favorite \| on: Are pixie fairies behind Bitcoin's latest bubble? Who is holding USDT? Likely traders who went onto Bitfinex (Tether's sister company) and sold their BTC there for what they thought was a good price. BTC, in this scenario, is a bridge to USD, because it can be moved to an OTC desk or a banked exchange and sold for cash.

wmf on Nov 23, 2020 [–]

So they're going to hold USDT until the crash, then re-buy BTC and move that out? Plausible, but it sure seems complicated.

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