if you were curious who buys it (lemmy.ml)

submitted 9 months ago by [email protected] to c/[email protected]

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[-] [email protected] 15 points 9 months ago

Microstrategy is an analytics company that buys bitcoin to pump bitcoin - they own something like 1% of the total supply.

Tether is a cryptocurrency that lets you do tax fraud by being pegged 1:1 to the US dollar, but can be exchanged in-kind for bitcoin so you don't actually trigger a taxable event. It's run by iFinex, a company that also runs the Bitfinex exchange. I'm not really sure that they actually have 120 billion in cash

I have no clue who actually runs these companies tho

this post was submitted on 20 Sep 2024

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