As per Blockchainreporter, Tether has purchased $1 billion worth of Bitcoin using its $USDT treasury for the first time, amid a price drop below $86,000. The transaction, routed through Bitfinex, signals the stablecoin issuer's confidence in Bitcoin's long-term value. Tether's Bitcoin holdings now total $7.588 billion, with the move seen as a bullish sign by market observers.
Tether Buys $1B Worth of Bitcoin Amid Price Dip Below $86K
BlockchainreporterShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.