According to news on December 5, Tether CEO Paolo Ardoino attributed the rise in USDT’s market value to the large inflow of funds into Bitcoin spot ETFs and the Bitcoin buying craze led by Michael Saylor. Ardoino revealed that Tether’s market capitalization has grown by approximately $16 billion in the past 20 days alone, in part due to large inflows into spot Bitcoin ETFs, with many people starting to buy Bitcoin at a very fast rate, especially after the U.S. election.