Comment by dkural

Although you're right that if tethers are not backed by anything they'd inflate BTC, keep in mind this is likely an extremely small effect, because a lot of the inbound also occurred throughout time, and at any given time, the vast majority of trading and volume was outside of any trade involving tethers. It should be well below single digit % - a lot less than the daily volatility, hence any influence on BTC price is negligible unless I am missing something (which is entirely possible, I'm new to this stuff).