"It's really terrible the words given by this strong supporter of BTC, I hope it will be."
Max Keiser, a broadcaster and staunch supporter of the cryptocurrency Bitcoin (BTC) believes that stablecoin issuer Tether (USDT) and El Salvador including the decline of the United States (US) dollar will push BTC to reach $220,000 in a short time.
Kaiser explained further, the USDT stablecoin business is in the process of strengthening BTC and then weakening the US dollar which should force his government to continue raising interest rates.
Following the understanding that the US is stuck in debt that it has created that may lead to hyperinflation, the BRICS union including China and Russia not only ditched the US dollar as the world's reserve currency but also launched a new gold-backed digital currency later this year.
That streak, millions of crypto users have exchanged fiat currency on USDT then stablecoin firms exchange fiat for US treasuries at Cantor which uses interest paid where they can buy more BTC.
In addition to USDT, MicroStrategy founded by Michael Saylor is part of the speculative attack following the firm not having to liquidate shareholders through the serial issuance of preferreds while USDT does not have to pay any interest, commented Keizer.
He added that the rate of BTC purchases from several entities including USDT, MicroStrategy and El Salvador will increase significantly as the first country to legalize BTC as legal tender is always looking to increase BTC holdings.
There is no denying that the US will launch its own Central Bank Digital Currency (CBDC), but they are too late as the BRICS currency will become the world's reserve currency while BTC is the world's reserve asset and USDT is the global replacement for the SWIFT network.