American broadcaster and Bitcoin supporter, Max Keizer, believes that the source of the stablecoin Tether and El Salvador, combined with the decline of the US dollar (USD), will push the price of Bitcoin to $220,000 soon.
on saturday tweetKeizer said the US dollar is doomed because inflation “is going to get tougher,” and while that happens, Bitcoin will be on its way to $220,000.
The US dollar is “F****d”
In the comments sent to CryptoPotatoKeizer explained that Tether's stablecoin business is strengthening Bitcoin and weakening the US dollar, forcing the US government to continue raising interest rates.
According to Bitcoin Bull, every country in the BRICS union, including China and Russia, has realized that the US is dying in a debt trap it created, which could lead to hyperinflation in US dollar printing. As a result, China and Russia are ditching the US dollar as the global reserve currency and making bilateral deals instead.
Worse still, the BRICS will launch a new gold-backed digital currency later this year, putting the “final nail” in the dollar and the North Atlantic Treaty Organization (NATO).
Keizer added that while BRICS continues its battle against the United States, US financial services company Cantor Fitzgerald and Tether are launching a sustained speculative attack against the dollar. Unfortunately, the attack would hasten the demise of fiat currency.
The role of Tether in the demise of the dollar
Millions of cryptocurrency users exchange fiat money for Tether (USDT), and the stablecoin company in turn exchanges fiat currencies for US Treasury bonds at Cantor, using the interest the company pays to buy more Bitcoin. As rates increase in the US, Tether's profits rise, as do the company's purchases of BTC.
“It is an unstoppable cycle of doom for the US dollar,” Keizer said.
Along with Tether, Michael Saylor's business intelligence firm MicroStrategy is part of the speculative attack, according to Keizer. The difference between the two companies is that MicroStrategy has to “dilute shareholders through the serial issuance of preferences,” while Tether does not need to pay any interest, the broadcaster said.
Keizer noted that over time, the pace of Bitcoin purchases from several entities, including Tether, MicroStrategy, and El Salvador, will explode. Speaking about the first country to legalize Bitcoin as a legal tender, Keyser, who held several meetings with the country’s president, said:
“El Salvador is always looking to increase its position in Bitcoin, significantly.”
On the other hand, the dollar will collapse, and soon no market participant will accept fiat currencies in exchange for Bitcoin. He confirmed that the increase in Bitcoin purchases will raise the value of the asset to $220,000.
By the time the US launches its own central bank digital currency, it will be too late, as BRICS will be the global reserve currency, Bitcoin will be the global reserve asset, and Tether will be the global alternative to the SWIFT network.
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