Tether now holds 150,000 $BTC, worth about $11.5 billion.
That is a stablecoin issuer sitting on a bigger Bitcoin stack than most public companies.
It is also holding through a ~41% drawdown from the $122,000 peak (Reuters).
Meanwhile BTC is back near $78,000 and the CMC Fear & Greed index reads 37.
My take: a reserve that buys dips is quiet support, but it also ties USDT's balance sheet to BTC's mood. Worth watching if BTC loses $75,600 again.
Is Tether's BTC stack a strength or a risk for the market?
#Tether #Bitcoin #USDT
Not financial advice. $USDT
That is a stablecoin issuer sitting on a bigger Bitcoin stack than most public companies.
It is also holding through a ~41% drawdown from the $122,000 peak (Reuters).
Meanwhile BTC is back near $78,000 and the CMC Fear & Greed index reads 37.
My take: a reserve that buys dips is quiet support, but it also ties USDT's balance sheet to BTC's mood. Worth watching if BTC loses $75,600 again.
Is Tether's BTC stack a strength or a risk for the market?
#Tether #Bitcoin #USDT
Not financial advice. $USDT