Tether Acquires Over 8,800 BTC, Boosting Institutional Confidence in Bitcoin

Tether has significantly increased its Bitcoin holdings, acquiring over 8,888 BTC worth around $8.46 billion. This move positions the company as a major institutional player in the cryptocurrency space and signals trust in the asset for market stability. The acquisition follows Tether’s established strategy of allocating 15% of profits towards Bitcoin purchases. 100,000+ BTC reserves now signify Tether’s commitment to transparency as the entity behind the USDT stablecoin.