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Thanks for your newsletter and critical thinking again.

However your claim that Tether minting pumps BTC is a fallacy, as correlation is not causation.

Causation: crypto growing (800-1000% p.a. per estimates), this causes two effects:

1) more utilization of stable coins (USDT, USDC, UST etc).

2) more buying of Bitcoin and crypto, ie rising prices.

Lastly, I’m not a fan of centralized stable coins, but currently use them for practical purposes. The future lies in decentralized stable coins such as UST.


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