1027 sats \ 3 replies \ @blocktock 31 Oct 2023 \ on: Tether Now Holds 61,606 BTC (Q3 2023 Report) bitcoin
Pretty convinced both Tether, Microstrategy and many mining companies will be swallowed-up by the US Government, or what remains of it.
One of the only ways besides (or in addition to) 6102 that a country the size of U.S. could acquire a large stack, without making it public in advance and seeing markets run away from them.
Hard to figure how that would happen w/ Tether, since they're not a US company, and they've been explicitly flying in the face of regulatory pressure this whole time. It would be quite a grab.
Tether is like the cockroach of the ecosystem, they'll be hard to put in the jar.
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I hear you, on the face of it.
But Tether is actively helping expand the reach of the US Dollar (stablecoin), consolidating market share and all without providing off-ramps. Buying US treasuries, providing liquidity there. This all benefits the U.S. They should be under more scrutiny in truth than they are right now, but they're not - potentially for those reasons.
Just a hunch and nothing more, but to me it's the playbook if the United States wants to get truly into the game.
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I'm afraid the "egregious tax policy" playbook will be inevitable, but eventually I suppose they'll need to move to something else. Will be interesting, in the Chinese sense of the word.
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