How? And why isn't that being shorted?
Any prediction of when this will come crashing back down?
Any prediction of when this will come crashing back down?
People say Bitcoin is worth $100k but what they actually mean is it's worth 100,000 "USDT", because that's the thing you can actually exchange for it.
Are those 100,000 "USDT" worth $100k? Well, maybe. Tether claims every USDT is backed by a US dollar. It just can't tell you where they are or let you audit them. But they're there. Honest.
> And why isn't that being shorted?
How would you short it? Especially given that most crypto trading platforms are going to go bankrupt when it does crash.
You can until you can't. As long as people think 1 "USDT" is worth $1, and as long as the amounts you're selling aren't too big, it stays afloat.
> 3. Technically you can short USDT via various means but you won't be able to collect any profits.
How? If my thesis is that USDT is going to collapse and bring down the whole cryptocurrency ecosystem, what can I buy to express that and profit on it?