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Governments and banks once mocked Bitcoin. Now they want in on it
(www.aljazeera.com)
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this post was submitted on 21 Dec 2024
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What do you mean its made liquid by tether?
Tether is a stable coin made of treasuries, somehow that's buying Bitcoin?
Deliberately dense?
https://letmegoogleforyou.com/?q=tether+bitcoin+price+manipulation
After looking at it it seems as though tether has treasuries to back all its tether coins, which means its essentially lending out its coin backed by short term treasuries with 0% interest. So in a way its turning treasuries into a liquid form of money, like cash.
They do buy a small amount of Bitcoin with the profits, which doesn't seem nefarious, MicroStrategy does the similar with its bonds. Its no more nefarious than mortgage backed securities, which let's a buyer inflate the money supply by taking a low interest loan, which is approved by the Fed in order to increase aggregate demand to push a 2% inflation target.