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Tether to Expand Bitcoin Holdings with New Purchase of 4,812 BTC

Tether, the issuer of the USDT stablecoin, has recently added 4,812 Bitcoin (BTC) to its portfolio, valued at approximately $496.7 million. This purchase is part of an agreement with Cantor Equity Partners and includes a unique twist. According to on-chain analytics platform Arkham Intelligence, Tether intends to transfer the acquired BTC to Twenty One Capital, a Bitcoin investment firm.

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Tether's Deal with Cantor Equity Partners

Backed by Tether, Twenty One Capital is awaiting the completion of a Special Purpose Acquisition Company (SPAC) merger with Cantor Equity Partners. The recent purchase brings Twenty One Capital’s total Bitcoin holdings to 36,312 BTC, making it the third-largest corporate holder of Bitcoin, following Strategy and Bitcoin mining firm MARA Holdings. Strategy currently holds 568,840 BTC, and MARA has 48,237 BTC.

https://twitter.com/arkham/status/1922654827613499449

Tether’s Ongoing Bitcoin Investments

Tether has been no stranger to Bitcoin acquisitions. In April, the company bought 8,888 BTC in a notable buy-the-dip move. With this latest purchase, Tether’s total Bitcoin holdings now stand at 92,646.57 BTC, valued at over $7.6 billion. This move further reinforces Tether’s belief in Bitcoin’s long-term potential.

Tether's Growing Influence in the Bitcoin Market

Tether's Bitcoin strategy highlights the company's confidence in the cryptocurrency's future. After recent fluctuations, Bitcoin has surpassed the $100,000 threshold again, with some experts predicting further bullish momentum, potentially leading to new all-time highs.

Simonas Brazionis

Blockchain Expert

Simonas is a crypto and blockchain expert with 6 years of experience. Passionate about the industry he educates others on blockchain technology, and continuously expands his knowledge. He has helped many newcomers understand crypto, navigate investments, and stay informed about trends like DeFi and NFTs.