pull down to refresh
150 sats \ 2 replies \ @kr 17 May 2023 \ on: Tether to invest up to 15% of its profits in bitcoin bitcoin
this is really interesting.
essentially, all US taxpayers are indirectly funding Tether’s Bitcoin purchases now.
US tax revenue goes out to pay interest on treasuries, and tether received that interest and converts some of it into BTC.
the next question this strategy raises is: what can the US do to stop Tether without defaulting on their debt?
Somebody needs to buy the debt. The treasury doesn't care who buys it as long as somebody keeps playing fiat musical chairs.
reply
Yes sir
reply