Tether CEO: Bitcoin buying boom and ETF inflows led to an increase in USDT market value

On December 5th, Tether CEO Paolo Ardoino attributed the increase in USDT market value to a large influx of funds into Bitcoin spot ETFs and the Bitcoin buying frenzy led by Michael Saylor. Ardoino revealed that in just the past 20 days, Tether's market value has grown by about $16 billion, partly due to a large influx of funds into Bitcoin spot ETFs as many people began buying Bitcoin at a very fast pace, especially after the US election.