Tether Bolsters Bitcoin Reserves with $735 Million Withdrawal

Tether has made a significant move by withdrawing at least 8,888 BTC from its Bitfinex hot wallet, increasing its holdings to over 92,647 BTC. This hefty withdrawal, valued around $735 million USD at the time of transaction, signifies Tether’s increased confidence in Bitcoin’s long-term potential. Analysis reveals that this move contributes significantly to Tether’s overall Bitcoin reserve, solidifying its position as one of the world’s largest Bitcoin holdings.