Ahmet Bedirhan Arvas 
Today, the prominent stablecoin issuer Tether (USDT) made a significant transfer of Bitcoin (BTC) from the Bitfinex exchange to its own account. In a striking move, Tether (USDT) withdrew a total of 8888.88 Bitcoin (BTC) from the Bitfinex exchange.
Tether Transferred 8888.88 Bitcoins to Its Wallet!
This significant withdrawal, approximately worth $379 million, has placed the stablecoin company among the top ten addresses holding Bitcoin. Currently, Tether holds an impressive reserve of 66,465.2 BTC with a market value of $2.82 billion.
The stablecoin company made a noteworthy move by withdrawing 8888.88 BTC from the Bitfinex exchange.
This move emphasizes how the company is integrated into the Bitcoin ecosystem as a major player, going beyond its role as a stablecoin issuer.
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Being among the top ten addresses holding BTC represents a significant financial achievement for Tether. According to reports, the cost price of Bitcoin assets is $25,176 per BTC.
This situation indicates that the company has made a substantial profit of $1.148 billion, representing an impressive 68% profit margin.
Known for issuing stablecoins pegged to fiat currencies like the US Dollar, the company is increasingly playing a more influential role in the cryptocurrency market. Particularly, the substantial withdrawal of Bitcoin signifies an important development, showcasing Tether’s strategic approach to diversifying its asset portfolio and managing digital assets.