Maybe so, but crypto is being pumped up via Tether which is supposed to be 1:1.
If more Tether is being minted, the value of all coins is fake, as it’s attributed to Tether not actual USD.
In the event of a mass sell off, there will be a bank run where Tether won’t be able to provide the money, thus only further tanking the price, assuming that you can even sell it.
The crypto market/USD will collapse before we stop needing fiat as a whole, but it’ll be a huge step.
Maybe so, but crypto is being pumped up via Tether which is supposed to be 1:1.
If more Tether is being minted, the value of all coins is fake, as it’s attributed to Tether not actual USD.
In the event of a mass sell off, there will be a bank run where Tether won’t be able to provide the money, thus only further tanking the price, assuming that you can even sell it.
The crypto market/USD will collapse before we stop needing fiat as a whole, but it’ll be a huge step.