- Tether acquired 8,888 BTC and now holds 100,521 BTC
- This is amidst record Bitcoin dips and fears that Tether could be forced to sell part of its Bitcoin holdings
Just a couple of days ago we saw an impressive purchase from Strategy amidst the Bitcoin dips, so now the largest stablecoin issuer Tether acquired 8,888 BTC, and their holdings have reached 100,521 BTC.
Tether and Another Bitcoin Purchase From the Big Player
The Tether purchase of 8,888 BTC costs ~$750M, which is not as much as we’ve seen recently from Strategy but significantly more than the recent Blackrock purchase, and it’s very interesting that such purchases are happening almost within a day of each other.
In fact, if we look at the bigger picture, there is a possibility that the April 2 tariff entry could shake up the markets and not for the better, while Bitcoin struggled for more than a month and just reached ~85K again. And we are still seeing such large purchases by key players that still look optimistic.
Separately in the case of Tether, it is worth adding that back in a February report JPMorgan, strategist Nikolaos Panigirtzoglou suggested that Tether may be forced to sell some of its Bitcoin holdings, to which Tether CEO Paolo Ardoino though rejoined quite unequivocally.
And yet, we see exactly the opposite movement towards accumulation amidst all of this, which may signal a more sustainable and long-term Bitcoin prioritization strategy.
Conclusion
Tether is probably maintaining the global pro-Bitcoin trend amid everything. But it won’t be long before we see the market reaction on April 2, and the big players in particular. How much they will prioritize Bitcoin in a such context? Maybe only more, and then these purchases are more than logins. Or maybe we will see a very different, more ambiguous strategy.
Stay tuned for updates, be adaptive in the rapidly evolving financial and crypto landscape, and keep your strategy grounded and balanced.
