Bitcoin Price Prediction: After MicroStrategy’s Year-End BTC Buy and Tether’s $780M BTC Reserve Move, Traders Shift To This Crypto Wallet For Its 347% APY
The Bitcoin price has slumped 1% in the last 24 hours to trade at $92,525 as of 2:45 a.m. EST on a 61% pump in trading volume to $56 billion. The recent slump in Bitcoin’s price comes as Tether completes its largest Bitcoin purchase since March, acquiring nearly $780 million worth of BTC in two transactions. This move comes despite Bitcoin falling from its mid-December all-time high of $108,000 to around $92,500. Tether’s total Bitcoin holdings now stand at approximately $7.75 billion, which is in line with its commitment to allocate up to 15% of its net operating profits to Bitcoin acquisitions. This demonstrates sustained corporate interest in Bitcoin, even during short-term price drops, with companies like KULR Technology and Quantum BioPharma also adopting Bitcoin to diversify their reserves and attract investors. However, MicroStrategy remains the largest corporate Bitcoin holder, significantly ahead of Tether, with a total of 446,400 BTC compared to Tether’s ...