Besides, Keiser also revealed why millions of people are swapping their fiat money for Tether’s USDT.
In a recent tweet, Keiser once again stated that he expects XRP to continue declining to zero against Bitcoin.
He went even further when he stated that XRP was created by Brad (Garlinghouse), the Ripple CEO, “to steal billions from witless fools.” Keiser chose not to mention that XRP emerged several years before Garlinghouse took the chief executive position at Ripple Labs.
He then explained why a lot of people are changing their fiat coins into USDT, which runs on multiple chains, including Tron and Ethereum, to get access to banking services. “Millions of people swap their fiat money for Tether because they don’t have bank accounts or access to banking services,” he tweeted, and “they use Tether like USD.”
Over the past 24 hours, Tether has issued a whopping $1 billion worth of stablecoins on the Tron chain. In the past year, 31 billion USDT have been emitted by this company on both Tron and Ethereum, according to a tweet published by the @lookonchain analytics X handle.
However, Keiser’s support for Tether may be explained by the fact that recently Tether started to allocate part of its profits to buying BTC.
Keiser is positive that these actions are killing the U.S. dollar as a global reserve currency “by issuing a fake version that millions use and putting the interest from investing in US Treasuries into Bitcoin.”
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
