Not true for many exchanges, as many of them, people can transfer US Dollars to the exchange and then buy any Crypto they want without ever having to first buy Bitcoin.
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Not true for many exchanges, as many of them, people can transfer US Dollars to the exchange and then buy any Crypto they want without ever having to first buy Bitcoin.
you are partially right but the higher volume exchanges are also in China/Asia and they drive the price of Bitcoin high also on some exchanges you can't use fiats at all anyway the price just went up again...