Bitcoin

April

Million

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A substantial&nbsp;<a href="https://x.com/PeckShieldAlert/status/1774626712271396989?s=20" rel="noopener noreferrer nofollow">transfer</a> stunned the crypto market on April 1 as the seventh wealthiest Bitcoin address made a monumental withdrawal from Bitfinex, totaling a staggering 8,889 BTC. The transaction, valued at a whopping $627 million, has drawn significant attention to activities surrounding the mysterious address.
Speculation runs rife that the origin of this mammoth transfer traces back to Tether, the powerhouse behind renowned stablecoin USDT. Tether's penchant for&nbsp;<a href="https://u.today/bitcoin-btc-scores-historic-monthly-close" rel="noopener noreferrer nofollow">Bitcoin</a> investments has been no secret, with previous purchases totaling thousands of BTC.
This latest move only adds to their formidable cryptocurrency holdings, which now stand at an estimated 75,354&nbsp;<a href="https://u.today/bitcoin-btc-hashrate-new-high-three-times-more-money-cryptoquant-ceo-says" rel="noopener noreferrer nofollow">BTC</a>, equivalent to an impressive $5.22 billion.
<blockquote>
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PeckShieldAlert</a> The 7th richest <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> address (<a href="https://twitter.com/hashtag/Tether?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Tether</a>?), as per the current ranking, received ~8,889 BTC (worth ~$627m) from <a href="https://twitter.com/hashtag/bitfinex?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitfinex</a> within the last 12 hours. <a href="https://t.co/Ak7AWYKwgI" rel="noopener noreferrer nofollow">pic.twitter.com/Ak7AWYKwgI</a>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1774626712271396989?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 1, 2024</a>
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The decision to funnel profits into Bitcoin rather than traditional assets like U.S. government debt appears to be part of Tether's long-term strategy, echoing sentiments expressed by its CEO Paolo Ardoino. The executive has hinted at an ambitious quarterly investment plan, allocating up to 15% of the company's profits toward Bitcoin acquisitions.
<h2 dir="ltr" id="tether-everywhere">Tether everywhere</h2>
Tether's aggressive stance in the market is further highlighted by its recent declaration of expecting record-breaking profits for the first quarter of 2024. With a staggering $105 billion market capitalization, Tether's dominance in the stablecoin arena is unmatched.&nbsp;
Not content with merely amassing&nbsp;<a href="https://u.today/half-a-billion-xrp-unlocked-from-ripple-escrow" rel="noopener noreferrer nofollow">cryptocurrency</a>, the company is also making significant strides in other sectors, including substantial investments in AI and active participation in lobbying efforts, positioning itself as a major player in the global financial landscape.

Top 7 Bitcoin Whale Withdraws $627 Million in BTC From Major Exchange

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