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Tether Increases Bitcoin Holdings by 8,888 BTC from Bitfinex

Published by
Vignesh S G

Tether has just made a bold move, withdrawing 8,888 BTC from the Bitfinex hot wallet. This brings its total Bitcoin holdings to a massive 92,647 BTC, making it one of the largest BTC holders in the world. But why is Tether stacking up so much Bitcoin?

With Bitcoin’s price constantly shifting and institutional interest on the rise, Tether’s moves could have a lasting impact on the market. Let’s dive in and break it all down.

Tether Increases Its Bitcoin Holdings

A hot wallet is like a readily accessible bank account for an exchange, used for frequent transactions. At the time of withdrawal, the 8,888 BTC were worth about $735 million.

With this addition, Tether’s main Bitcoin reserve now holds 92,647 BTC. Since Bitcoin is currently priced at $82,990.57, Tether’s total BTC holdings are valued at around $7.69 billion.

A Strong Bet on Bitcoin’s Future

Tether seems to have a long-term vision for Bitcoin. The company has already announced that it will use at least 15 percent of its profits to regularly buy more BTC. This strategy suggests that Tether believes in Bitcoin’s potential and is committed to accumulating more over time.

How This Could Impact the Market

Tether’s growing BTC reserves could affect market liquidity. Over the past 30 days, Bitcoin’s price has dropped by 3.1 percent, including a 4 percent decline in the last seven days. However, in the past 24 hours, BTC has gained about 1 percent. The total Bitcoin trading volume in the last 24 hours stands at $28.08 billion, while Bitcoin’s On-Balance Volume (OBV) is -852.46K.

By consistently using 15% of its profits to buy Bitcoin, Tether is building a strong BTC reserve. As one of the largest Bitcoin holders, its investment strategy could have a major impact on the market, reinforcing institutional trust in Bitcoin’s future.

Tether is playing the long game with Bitcoin, and when billion-dollar bets are on the table, the ripple effects are impossible to ignore.

FAQs

How much will 1 Bitcoin cost in 2025?

As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046 this year if the bullish sentiment sustains.

How much will 1 Bitcoin be worth in 2030?

With increased adoption, the price of 1 Bitcoin could reach a height of $610,646 in 2030.

How much will the price of Bitcoin be in 2040?

As per our latest BTC price analysis, Bitcoin could reach a maximum price of $5,148,828.

How much will the Bitcoin price be in 2050?

By 2050, a single BTC price could go as high as $12,436,545.

Vignesh S G

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.

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