Could Tether Flip Bitcoin? - Arthur Hayes & Tom Lee

Stablecoin & Cryptocurrency Market Dynamics - The stablecoin Tether's market capitalization could potentially surpass Bitcoin's [1] - Tether is described as a tokenized dollar, suggesting its potential to become a dominant digital currency [1] - The growth of Tether could occur at the expense of Euro dollar deposits and traditional banking systems outside the US [2] - The US administration may have the goal of promoting the use of Tether [3] Potential Value Capture - An increase in Tether's circulating supply from 200 billion to 2 trillion (an incremental 1800 billion) would result in enormous value capture for Tether [4] - Crypto equities might perform better than expected due to blockchain utilization [4]