Should We Worry About Tether’s Bitcoin-Buying Plan?

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Squint and you can see resemblances to Do Kwon’s bitcoin buying during Terra/luna’s high days. This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full .

a little over 52,000 BTC Although Tether didn’t state as much, its bitcoin-buying plan could also be seen as an attempt to de-risk its exposure to the U.S. dollar. It’s en vogue nowadays to talk about

or the process by which countries (and to a lesser extent companies) reduce their reliance on the greenback, seeing as trust is dwindling in the fiscal and monetary policies of the U.S. More specifically, the Federal Reserve (which manages monetary policy) is caught between quelling inflation and starting a recession while the U.S. Congress (fiscal policy) is locked into a

that genuinely risks the U.S. Treasury defaulting on its loans – leaving the world to search for alternatives. There’s really no amount of bitcoin that would save the firm if the buck breaks. But until that happens, Tether just has to take in funds and pay out withdrawals – and it can invest the spread wherever it wants

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