It concerns me that tether is buying Bitcoin (and plans to continue each month).
A stable coin that is pegged to usd should have 1:1 reserves of that pegged asset.
Of course BTC is the ultimate asset. But it's volatility can create an attack vector. Just like what happened with Luna.
Brent
npub18m…tr3sc
2023-06-03 14:42:57
Author Public Key
npub18mszc492kns4m58vepn4xfa36z9xwra5ufrw4e78gcefk2a20z8qktr3scPublished at
2023-06-03 14:42:57Event JSON
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"pubkey": "3ee02c54aab4e15dd0ecc8675327b1d08a670fb4e246eae7c746329b2baa788e",
"created_at": 1685803377,
"kind": 1,
"tags": [],
"content": "It concerns me that tether is buying Bitcoin (and plans to continue each month).\nA stable coin that is pegged to usd should have 1:1 reserves of that pegged asset.\nOf course BTC is the ultimate asset. But it's volatility can create an attack vector. Just like what happened with Luna.",
"sig": "03563dfa8a9b7b32dfa5e263b0702fd79dd6bcf4d6fde6d5b56a17c9317b866533fca9c75b44fc6ee6db9a2814ed4d6af91d8dd17d4ccd5bd429c21cd8a15989"
}