The Bitcoin market continues to attract the attention of major investors. Finally, the Stablecoin giant Tether Holdings Ltd. has made a new purchase by turning the price decrease in Bitcoin into an opportunity. This strategic move of the company once again demonstrates its confidence in Bitcoin and long -term investment plans.
Tether’s Bitcoin strategy drew attention
The last decrease in the price of Bitcoin, Stablecoin giant Tether Holdings Ltd. offered an important purchase opportunity for. According to data provided by Hodl15Capital, the On-Chain Analysis Platform, Tether finally bought an 8,888 BTC. This move once again revealed the company’s commitment to Bitcoin and made it one of the largest BTC supporters in the web3 world.
As the largest stablecoin exporter on the market, Tether has long been running a wide BTC portfolio for a long time. With the last purchase, the amount of Bitcoin in the hands of the company reached 92.646,57 BTC. Tether acquired these assets at an average unit price of $ 82,591,34 and the total amount of investment increased to $ 7.65 billion.
The company’s Bitcoin accumulation strategy dates back to December 2023 and regularly realized BTC purchases. In particular, Tether repeated 8.888 BTC purchases at regular intervals and purchased this amount for $ 379 million on December 31, 2023 and on March 31, 2024 for 627 million dollars. With the last purchase, the company’s determination in the BTC accumulation strategy came up.
There is an increase in corporate BTC purchases
Tether’s Bitcoin investments were one of the important transactions between institutional BTC purchases observed in March. In particular, Microstrategy made a large purchase under the leadership of Michael Saylor and made an investment of over $ 2 billion and increased its total BTC presence to 528,000.
In addition, Metaplanet, Semler Scientific and some other companies made smaller BTC purchases. Many companies adopt borrowing strategies to finance BTC purchases. This approach can support the sustainability of corporate Bitcoin investments in the long run.
Despite all these institutional purchases, the price of Bitcoin has not been able to fully reflect the impact of large -scale purchases. As of the news, Bitcoin is traded at $ 83.523,19 and has increased by 2.13 %in the last 24 hours.
