7th largest Bitcoin The wallet recently managed to attract attention in the market by withdrawing 8889 BTC from the Bitfinex exchange. While the reason for the $627 million transaction is not yet known, various speculations are spreading.
As we reported as Koinfinans.com, the name behind this transaction is the company behind USDT. Tether It is thought to be. Although the company’s interest in Bitcoin investments is already a known detail, it is important to note that it is not certain.
This latest move has now reached an estimated 75,354 BTC, equivalent to an impressive $5.22 billion. cryptocurrency was among its investments.
#PeckShieldAlert The 7th richest #Bitcoin address (#Tether?), as per the current ranking, received ~8,889 BTC (worth ~$627m) from #bitfinex within the last 12 hours. pic.twitter.com/Ak7AWYKwgI
NEWS CONTINUES BELOW— PeckShieldAlert (@PeckShieldAlert) April 1, 2024
Paolo Ardoino, Tether’s CEO, stated that the decision to invest in Bitcoin instead of traditional assets is part of the company’s long-term strategy. Ardoino signaled an ambitious quarterly investment plan by allocating 15% of the company’s profits to BTC purchases.
The company’s aggressive stance in the market has become even more evident with its latest announcement of record-breaking profit expectations for the first quarter of 2024. With a market cap of $105 billion, Tether has unparalleled dominance in the stablecoin space.
Beyond raising cryptocurrencies, the company is positioning itself as a major player in the world of global finance by taking significant steps in other sectors such as artificial intelligence investments and lobbying. Tether not only collects cryptocurrencies, but is also actively involved in other areas.
