/biz/ - Business & Finance

IMPORTANT NOTE ABOUT PRICE INCREASE.
> Most of the volume more than 50% is coming in from USDT at Gate.io
> Many speculate that this is insiders, Jibrel themselves, or Institutions.
> Tether has just printed 250 million tethers.
> In b4 you can't trust USDT. Chink man of Binance CZ claims its legit and he is so far a good force in Crypto

Below is link taken from https://www.reddit.com/r/CryptoCurrency/comments/8kg9b6/tether_just_printed_250_million_worth_of_tethers/

">Institutional investors will not want to enter in through the open market. Its not liquid enough for investing in large quantities. That will drive the price up, and they will be holding the risky bag at the top. They want to get in during sell offs, which is essentially what tether creation is. Its the same reason the Mt Gox trustee is able to unload all of those coins without touching the market. Who do you think he is selling $100 million in crypto to?

On top of that, USDT is not a US dollar. In order to convert it back to US dollars, you'll have to do something like buy BTC and send it to GDAX/coinbase and sell it. That means the institutions are guaranteeing themselves that they aren't holding the bag. They're going to be the ones selling you the BTC when you try to cash out.

If this is what is going on, its brilliant really. The bad news is there will never be any institutional money flooding into the market. The money flooding into the market will be people converting their USDT to crypto. The good news is that most institutional investors aren't they type to buy and flip... so they are likely doing this to get in for the long haul..."

I hope this helps you anons. 30K jibblet.