Will Tether (USDT) eventually collapse cryptocurrencies market?

Yes, possibly…

I did read in an article that as of Jan 2021 there are about 21 Bil. fiat/paper dollars collected in exchange for USDT.

This amount can cover only a small fraction of the current valuation of all of the crypto-coins.

If we assume for a moment that all other crypto coins disappear, and there are 21 mil. bitcoiins, then the highest possible price of BTC seems to be no more than $1000 …

The whole crypto market looks a way overvalued.

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