A rich man named Howard Lutnick says a company called Tether has enough money to back their special kind of digital money, which is called USDT. He thinks that another digital money called Bitcoin will grow in the long run, just like early gold investments did. He also says that people in countries with weak currencies, like Turkey, would want to hold their money in a stable coin like USDT, because it is safer and more reliable than their own currency. Howard Lutnick doesn't think Bitcoin ETFs, which are special products for investing in Bitcoin, will be very important or helpful for American people who want to invest in digital money. Read from source...

- Lutnick claims that Tether has the money to back USDT stablecoin, but he does not provide any evidence or source for his statement. This is a weak argument and lacks credibility.
- Lutnick compares holding Bitcoin with holding USDT in a volatile currency environment like Turkey, but this comparison is flawed because it ignores the risks of Tether being investigated by regulators and potentially losing its peg to the dollar. It also assumes that all investors have the same preferences and risk tolerance for their crypto assets.
- Lutnick dismisses the potential impact of Bitcoin ETFs on American investors, but this is a short-sighted view because it underestimates the demand and interest from retail and institutional investors for a regulated and accessible way to invest in Bitcoin. It also overlooks the possibility that Bitcoin ETFs could provide more stability and liquidity to the market, as well as attract new capital inflows.