Tether's Head Acknowledged USDT as the 'Fuel' for Bitcoin Price Growth

There is a strong correlation between Bitcoin's rise above the $100,000 mark and the increase in the supply of the USDT stablecoin from Tether. This was stated by the company's CEO Paolo Ardoino in an interview with The Block.

In just the last 20 days, the market capitalization of the 'stablecoin' has increased by about $16 billion, he clarified.

Partially, this is related to the influx of capital into spot Bitcoin ETFs, as well as purchases of digital gold by MicroStrategy and its imitators, Ardoino added.