Why Tether's Bad News Doesn't Matter

A lot of fuss has come up about the legitimacy of TetherUSD ($USDT). Throughout the repeated bad news, Tether's price value has still only fluctuated by a few cents.

Historical dips of USDT have shown uncertainty in the markets. While it may seem Tether is "printing money out of thin air," I've taken a moment to show what Tether really holds. By going to the Tether explorer, we can see the "Rich List" which holds the most amount of USDT.

Thanks to the legitimacy of a distributed public ledger, backed by Bitcoin through the Omni Layer, Tether clearly states the owners of the majority of Tether holdings. The top 83% of people who hold the total supply of Tether are the same people who accept tether as a medium of exchange.

For a cryptocurrency to have true value, there needs to be a medium of exchange for said cryptocurrency. Tether today is no different than Tether when it started in 2015. These are assets secured by the Bitcoin blockchain, that retain value through market capitalizations in exchanges which accept USDT. In my opinion, this is the only audit you need to see the value.

I am not supporting Tether by any means, but shedding some light on some doubt in the markets. Many ICOs which have received crowdfunded venture capital are working on solutions to the hardships blockchains face. The bad news of Tether in a week has little impact on the whole of the Cryptocurrency movement.

Peace love and positivity <3