{"id":563990,"date":"2023-12-05T19:00:15","date_gmt":"2023-12-05T19:00:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=563990"},"modified":"2024-06-11T08:01:44","modified_gmt":"2024-06-11T08:01:44","slug":"tether-strikes-gold-in-bitcoin-profits-soar-amid-bull-market","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/tether-strikes-gold-in-bitcoin-profits-soar-amid-bull-market\/","title":{"rendered":"Tether Strikes Gold In Bitcoin: Profits Soar Above $1 Billion Amid Bull Market"},"content":{"rendered":"

Tether, known for its USDT stablecoin, has recently made headlines with its Bitcoin holdings soaring in value, generating a profit exceeding $1 billion<\/a>.<\/p>\n

Notably, this significant financial gain can be attributed to the stablecoin issuer’s approach of buying Bitcoin using a portion of its net profits<\/a>. This move has proven highly lucrative amid the recent surge<\/a> in BTC prices.<\/p>\n

According to reporter Wu Blockchain, Tether’s holdings currently stand at 57,576 BTC, valued at an estimated $2.4 billion. These holdings were acquired at an average rate of $22,480 per BTC, reflecting a savvy investment strategy in the volatile crypto market.<\/p>\n

\n

Tether\u2019s holdings of BTC currently have a profit of $1.1 billion (+85%). Tether currently holds a total of 57,576 BTC ($2.4B), with a cost of $22,480 per bitcoin. Among them, 53,492 BTC were reserved before March this year, and 4,083 BTC were purchased regularly using 15% of\u2026<\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) December 5, 2023<\/a><\/p><\/blockquote>\n

The recent surge in Bitcoin’s value, which has surpassed the $41,000 mark, has been a major contributor to Tether’s significant profit margin, showcasing the potential of strategic crypto investments.<\/p>\n

Related Reading: Bitcoin\u2019s Bullish Surge Ahead: Deribit Predicts Major Price Leap In Early 2024<\/a><\/div>\n

BTC Accumulation And Market Impact<\/h2>\n

The notable profit realized by Tether is the result of its investment strategy implemented in May 2023. The company began allocating up to 15% of its net realized operating profits towards Bitcoin purchases.<\/p>\n

This strategic decision has not only diversified Tether’s investment portfolio<\/a> but also aligned the company with Bitcoin’s potential as a “transformative” technology,\u00a0according to Tether\u2019s CTO Paolo Ardoino.<\/p>\n

Paolo Ardoino noted<\/a> that the choice to invest in Bitcoin was based on its decentralized nature, limited supply, and growing global adoption. Ardoino emphasized Bitcoin’s “resilience” as a “long-term store of value” and its potential to reshape business and lifestyle paradigms.<\/p>\n

The Tether CTO stated:<\/p>\n

Our investment in Bitcoin is not only a way to enhance the performance of our portfolio, but it is also a method of aligning ourselves with a transformative technology that has the potential to reshape the way we conduct business and live our lives.<\/p><\/blockquote>\n

As of the first quarter of 2023, Tether’s BTC reserves were valued<\/a> at around $1.5 billion, a testament to the success of its Bitcoin accumulation strategy.<\/p>\n

Related Reading: Bitcoin Alert: $137 Million Moved By Long-Sleeping Whale, Market Braces For Impact<\/a><\/div>\n

Bitcoin Rains Profits<\/h2>\n

The ongoing bull run in the crypto market<\/a> has benefitted Tether and other prominent Bitcoin proponents. Max Keiser, a well-known trader and BTC supporter in the crypto community, recently revealed a significant surge in his Bitcoin holdings on X.<\/p>\n

\n

I\u2019m up 20,000,000% since 2011 with my #Bitcoin<\/a> https:\/\/t.co\/nfj4AMSgmR<\/a><\/p>\n

\u2014 Max Keiser (@maxkeiser) December 4, 2023<\/a><\/p><\/blockquote>\n

Keiser, who has been investing in Bitcoin since 2011, recognized the potential of BTC early on. While Keiser has not publicly disclosed<\/a> the exact amount of BTC he owns, it\u2019s clear that his early investment has paid off handsomely over the years.<\/p>\n

\"Bitcoin
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Tether, known for its USDT stablecoin, has recently made headlines with its Bitcoin holdings soaring in value, generating a profit exceeding $1 billion. Notably, this significant financial gain can be attributed to the stablecoin issuer’s approach of buying Bitcoin using a portion of its net profits. This move has proven highly lucrative amid the recent surge in BTC prices. According to reporter Wu Blockchain, Tether’s holdings currently stand at 57,576 BTC, valued at an estimated $2.4 billion. These holdings were acquired at an average rate of $22,480 per BTC, reflecting a savvy investment strategy in the volatile crypto market. Tether\u2019s holdings of BTC currently have a profit of $1.1 billion (+85%). Tether currently holds a total of 57,576 BTC ($2.4B), with a cost of $22,480 per bitcoin. Among them, 53,492 BTC were reserved before March this year, and 4,083 BTC were purchased regularly using 15% of\u2026 \u2014 Wu Blockchain (@WuBlockchain) December 5, 2023 The recent surge in Bitcoin’s value, which has surpassed the $41,000 mark, has been a major contributor to Tether’s significant profit margin, showcasing the potential of strategic crypto investments. Related Reading: Bitcoin\u2019s Bullish Surge Ahead: Deribit Predicts Major Price Leap In Early 2024 BTC Accumulation And Market Impact The notable profit realized by Tether is the result of its investment strategy implemented in May 2023. The company began allocating up to 15% of its net realized operating profits towards Bitcoin purchases. This strategic decision has not only diversified Tether’s investment portfolio but also aligned the company with Bitcoin’s potential as a “transformative” technology,\u00a0according to Tether\u2019s CTO Paolo Ardoino. Paolo Ardoino noted that the choice to invest in Bitcoin was based on its decentralized nature, limited supply, and growing global adoption. Ardoino emphasized Bitcoin’s “resilience” as a “long-term store of value” and its potential to reshape business and lifestyle paradigms. The Tether CTO stated: Our investment in Bitcoin is not only a way to enhance the performance of our portfolio, but it is also a method of aligning ourselves with a transformative technology that has the potential to reshape the way we conduct business and live our lives. As of the first quarter of 2023, Tether’s BTC reserves were valued at around $1.5 billion, a testament to the success of its Bitcoin accumulation strategy. Related Reading: Bitcoin Alert: $137 Million Moved By Long-Sleeping Whale, Market Braces For Impact Bitcoin Rains Profits The ongoing bull run in the crypto market has benefitted Tether and other prominent Bitcoin proponents. Max Keiser, a well-known trader and BTC supporter in the crypto community, recently revealed a significant surge in his Bitcoin holdings on X. I\u2019m up 20,000,000% since 2011 with my #Bitcoin https:\/\/t.co\/nfj4AMSgmR \u2014 Max Keiser (@maxkeiser) December 4, 2023 Keiser, who has been investing in Bitcoin since 2011, recognized the potential of BTC early on. While Keiser has not publicly disclosed the exact amount of BTC he owns, it\u2019s clear that his early investment has paid off handsomely over the years. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":521312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,601,7159,78790,6664,87925,11164,4100,10263],"class_list":["post-563990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-investment","tag-bitcoin-profit","tag-btcusdt","tag-crypto","tag-crypto-asset","tag-stablecoin","tag-tether","tag-usdt"],"acf":[],"yoast_head":"\nTether Strikes Gold In Bitcoin: Profits Soar Above $1 Billion Amid Bull Market<\/title>\n<meta name=\"description\" content=\"Tether, known for its USDT stablecoin, has recently made headlines with its Bitcoin holdings soaring in value, generating a profit...\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Tether Strikes Gold In Bitcoin: Profits Soar Above $1 Billion Amid Bull Market","url":"http:\/\/ktsl888.com\/news\/tether-strikes-gold-in-bitcoin-profits-soar-amid-bull-market\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/tether-strikes-gold-in-bitcoin-profits-soar-amid-bull-market\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?fit=1140%2C815"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin investment","bitcoin profit","btcusdt","crypto","crypto asset","stablecoin","tether","usdt"],"dateCreated":"2023-12-05T19:00:15Z","datePublished":"2023-12-05T19:00:15Z","dateModified":"2024-06-11T08:01:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Tether Strikes Gold In Bitcoin: Profits Soar Above $1 Billion Amid Bull Market\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/tether-strikes-gold-in-bitcoin-profits-soar-amid-bull-market\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/tether-strikes-gold-in-bitcoin-profits-soar-amid-bull-market\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin.jpeg?fit=1140%2C815\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin investment\",\"bitcoin profit\",\"btcusdt\",\"crypto\",\"crypto asset\",\"stablecoin\",\"tether\",\"usdt\"],\"dateCreated\":\"2023-12-05T19:00:15Z\",\"datePublished\":\"2023-12-05T19:00:15Z\",\"dateModified\":\"2024-06-11T08:01:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?fit=1140%2C815","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/563990"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=563990"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/563990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/521312"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=563990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=563990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=563990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}