Tether Acquires $1 Billion in Bitcoin Amid Bubble Concerns

Tether has acquired $1 billion worth of Bitcoin in Q3, about 8,800 BTC. This move triggered mixed reactions.

Jacob King, CEO of SwanDesk, warns this could inflate a potential bubble, claiming Tether creates money "out of thin air," inflating Bitcoin's market artificially.
King suggests Bitcoin's true value may be under $1,000 due to inflated buy volumes.
Some investors question why institutions still invest if trading volume is considered fake, hinting that the fiat currency system might be the real bubble.
King refutes significant institutional investment claims, stating retail investors mainly drive ETF inflows.
King criticizes MicroStrategy as a "leveraged Bitcoin casino," alleging past inflation of figures by its co-founder.
Quinten Francois presents an optimistic view, noting Tether's purchase amid US regulatory moves for stablecoin adoption through the GENIUS Act.
The act could channel offshore Eurodollars into US bonds via stablecoins, maintaining quantitative easing outside the Fed.

BTC trades at $113,200, 8% below its all-time high, according to CoinGecko.