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.
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.
Cheers