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Well-known trader and analyst Peter Brandt said that storing funds in USDT is as safe as in “Nigerian trinkets.”
Tether Now that is an interesting story. Holding the strap is almost as safe as holding the Nigerian Trinket. I think people are dumb for having wealth, even overnight, on the rope. It’s a joke when people condemn the USD as fiduciary, but it stands firm.
– Peter Brandt (@PeterLBrandt) April 29, 2020
“I think only fools keep funds in Tether. Qualifying a fiat dollar and using USDT is a laugh. ”– summarized.
He added that selling bitcoin on USDT instead of the dollar would not allow US residents. USA Avoid IRS attention.
It is not entirely clear whether the trader was referring to an African country’s currency by “Nigerian trinkets,” but comments have already informed him that the Nigerian naira is not as stable.
Sorry No intention to offend.
– Peter Brandt (@PeterLBrandt) April 29, 2020
He clarified that USDT holders rely on unregulated exchanges with an unknown balance of payments.
Support brackets: sleep well
Your wealth will be left overnight with a patch of exchanges not subject to regulatory authorities and whose financial strength you know little. LOL with that one.
– Peter Brandt (@PeterLBrandt) April 29, 2020
Recall, Brandt considers the current crisis associated with the pandemic, an ideal storm for bitcoin.
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