Blockchain sleuths have flagged a notable acquisition: on Dec. 30, 2024, a bitcoin address believed to be linked to stablecoin issuer Tether added 8,404.48 BTC to its reserves, valued at a cool $772 million.

Blockchain Detectives Spot $772M Bitcoin Transfer to Tether

Tether, known for issuing the largest stablecoin by market cap, now holds a total of 83,758.57 BTC—an impressive stash worth $7.7 billion. According to onchain trackers, the tether-linked wallet received 7,628.92 BTC from a Bitfinex-tagged wallet. Shortly afterward, an additional 775.568 BTC landed at the same address. However, these bitcoin transactions raise eyebrows due to their low privacy ratings, with Blockchair’s privacy tool noting repetitive use of the same address for both receiving and change transactions—a consistent feature of this wallet.

The two BTC transfers that hit Tether’s alleged wallet on Monday morning.

Although the company hasn’t publicly claimed ownership of the wallet, speculation remains high. The last time tether’s bitcoin reserves grew was in March 2024, when it acquired 8,888.88 BTC. Before that, on Dec. 31, 2023, it had also snapped up exactly 8,888.88 BTC. Given the recurring use of the auspicious number eight, some may wonder if tether might round out 2024 by adding 484.4 BTC to hit the magic 8,888.88 mark once again.

In addition to its bitcoin holdings, tether also manages a diverse portfolio of assets, including 4.8 million CRO, 2.29 million TRX, 148.46 ETH, 440,398 USDC, and 176 BNB. The recent addition to Tether’s bitcoin reserves suggests a strategic move to bolster its BTC cache, potentially aiming to fortify its position in the volatile crypto market. This acquisition, marked by interesting timing, might signal Tether‘s ongoing confidence in bitcoin’s value, while the pattern of acquisitions hints at a possible numerological strategy or a bid for symbolic significance in their reserve management.

The number 8,888.88 holds special significance in Chinese culture, and it’s all about luck and prosperity. Why? The pronunciation of the number 8 closely resembles the word for “wealth” in Chinese, making it a powerful symbol of financial success and good fortune. Now, when you stack those eights together—like in 8,888.88—to some believers, that lucky charm gets an even bigger boost, creating a number that practically radiates prosperity and abundance.
#binance #wendy #bitcoin $BTC $ETH $SOL