Tether Increases Bitcoin Holdings to 8,888 BTC

Liputan6.com, Jakarta – Onchain data reveals stablecoin giant Tether increased its bitcoin reserves, adding 8,888 BTC to its wallets on March 31, 2024. Tether wallet addresses now rank as the seventh largest bitcoin holders by volume.

Reporting from Bitcoin.com, Tuesday (2/4/2024), although Tether has not officially confirmed its ownership of the wallet, the address “bc1qj” is usually associated with the company.

Additionally, all deposits come from Ifinex's subsidiary, Bitfinex, which is based in the British Virgin Islands. This transaction follows the allocation of another 8,888 BTC to reserves on December 31, 2023.

The number 8 is considered very coincidental in Chinese culture, and numbers featuring repeated 8s, such as 8,888.88 are considered very auspicious. After this transaction, the “bc1qj” wallet has increased as a holder of 75,354.08 BTC, estimated at USD 5.27 billion or the equivalent of IDR 83.9 trillion (assuming an exchange rate of IDR 15,935 per US dollar).

From an initial transaction of 0.1 BTC on September 30, 2022, the address has consistently accumulated bitcoins. It has also made small bitcoin divestments, such as a transaction on January 18, 2024, that cost 0.00167436 BTC.

In addition, Tether's digital currency, tether (USDT), leads as the cryptocurrency most tied to the dollar based on market capitalization, reaching USD 104.44 billion or the equivalent of IDR 1,664 trillion on April 1, 2024.

Undeniably, Tether has experienced significant expansion over the past year, witnessing significant growth in the currency. investment, income, and reserve expansion.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.