Tether CEO: The Bitcoin buying frenzy and ETF inflows have led to an increase in USDT market capitalization

ChainCatcher news, according to The Block, Tether CEO Paolo Ardoino attributed the increase in USDT market capitalization to a significant influx of funds into Bitcoin spot ETFs and the Bitcoin buying frenzy led by Michael Saylor.

Ardoino revealed that Tether's market capitalization has grown by approximately $16 billion in just the past 20 days, partly due to a large influx of funds into spot Bitcoin ETFs, with many people starting to buy Bitcoin at a very fast pace, especially after the U.S. elections.