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Tether Adds 8,888 BTC to Its Holding, Signaling Confidence in Bitcoin’s Future
April 1, 2025 | Written by Vignesh S G | Views: 3,457
In a recent development, Tether has withdrawn at least 8,888 BTC tokens from the Bitfinex hot wallet. This significant move highlights the company’s confidence in the long-term potential of Bitcoin.
The withdrawal resulted in the total Bitcoin holding of Tethter’s BTC address growing to no fewer than 92,647 BTC tokens. At the time of withdrawal, these tokens were valued at approximately $735 million. With Bitcoin currently priced at $82,990.57, Tether’s BTC holdings are now worth a staggering $7,688,827,338.79.
The decision by Tether to withdraw such a significant amount of funds is likely driven by the company’s commitment to increasing its Bitcoin reserve over time. As previously announced, Tether plans to use at least 15% of its profit to regularly buy more Bitcoin.
While this move may have implications for market liquidity, it is essential to note that institutional interest in BTC has increased significantly. As one of the largest Bitcoin holders, Tether’s investment strategy could have significant repercussions on the crypto market.
It will be interesting to see how other players in the cryptocurrency space react to Tether’s bold move.
Source: https://coinpedia.org/news/tether-adds-8888-btc-to-its-holding-signaling-confidence-in-bitcoins-future/
