Tether is Now Printing Millions, and That’s Huge for Bitcoin

As NewsBTC reports, “Tether’s USDT money printer is up and running again, and it could be a sign of what’s to come next for Bitcoin and the aggregated cryptocurrency market.

“It now appears that Tether has issued a whopping $161 million worth of USDT over the past 24-hours, putting the total number of new USDT issued over the past three months at $627 million.

“Although this massive addition of new Tether into the crypto ecosystem has come about during a time of immense selling pressure on Bitcoin, historical precedent does seem to suggest that this is a highly bullish sign for the benchmark cryptocurrency in the near-term.

“Tether has long been accused of using their ability to print USDT tokens to manipulate Bitcoin, with the addition of these tokens to the crypto ecosystem being directly correlated to massive BTC price movements.

“According to data recently shared on Telegram by Unfolded – a Bitcoin and crypto analytics group – Tether has increased the circulating supply of USDT by an astonishing 13.3% over the past three months, with an additional $161 million worth of tokens being minted over the past 24-hours…”

Continue to read the full report on NewsBTC.