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    Home » Tether expands Bitcoin holdings with 8,888 BTC withdrawal from Bitfinex
    Markets 3 months ago

    Tether expands Bitcoin holdings with 8,888 BTC withdrawal from Bitfinex

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    1-4-2025 – Tether has substantially enhanced its Bitcoin portfolio by executing a withdrawal of 8,888 BTC from Bitfinex’s operational wallet. This strategic manoeuvre, valued at approximately $735 million, underscores the stablecoin giant’s bullish stance on the premier cryptocurrency.

    The transaction has catapulted Tether’s primary Bitcoin reserve address to an impressive holding of 92,647 BTC, securing its position as the sixth-largest Bitcoin address globally. With Bitcoin trading at $82,990.57, Tether’s cryptocurrency war chest now commands a staggering value exceeding $7.68 billion.

    Market analysts have been keenly observing Tether’s investment strategy, particularly its commitment to allocating 15% of its profits towards regular Bitcoin acquisitions. This systematic approach to accumulating Bitcoin reserves suggests a deep-seated confidence in the cryptocurrency’s long-term trajectory.

    Recent market dynamics paint an intriguing picture, with Bitcoin experiencing mixed fortunes. Despite a modest 1% uptick in the past day, the broader trend shows a 3.1% decline over the monthly timeframe, with a more pronounced 4% dip in the weekly chart. The trading volume remains robust at $28 billion, though the On-Balance Volume indicator presents a negative reading of -852.46K.

    The implications of Tether’s expanding Bitcoin holdings extend beyond mere numbers. This substantial accumulation could potentially influence market liquidity dynamics, whilst simultaneously reflecting growing institutional appetite for cryptocurrency investments. Industry observers suggest that Tether’s strategic positioning could herald a new phase in the evolution of cryptocurrency market dynamics.

    Tether’s latest withdrawal from Bitfinex’s hot wallet – a frequently accessed repository for routine transactions – represents a significant vote of confidence in Bitcoin’s future prospects.

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