Bitcoin's Near-Term Tether Risk: Neutral Rating

Bitcoin has had a massive run. Some of that buying was sourced with Tether which is said to be a "stable-coin" backed by US dollars. However, regulators are hovering here and news has dripped out that Tether was not 100% backed by US dollars.

There is something huge going on here and there are a couple of near-term regulatory catalysts that could true up this story. If so, that would pull a massive amount of buying capability from the market which would likely affect Bitcoin and general crypto prices.

Due to this, we've moved to a Neutral Rating on Bitcoin and Grayscale (OTCMKTS: GBTC) looking for better entries lower.

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Disclaimer: All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you ...

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