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0 sats \ 0 replies \ @kr OP 31 Oct 2023 \ parent \ on: Tether Now Holds 61,606 BTC (Q3 2023 Report) bitcoin
You’re right about the MicroStrategy numbers, but 61,606 BTC is not a small amount of Bitcoin for a company to own.
Not saying Tether is responsible for propping up the Bitcoin market, in fact the price dropped by over 10% from Q2 to Q3.
Still, they are a steady buyer of BTC at a very large scale, and are a net-positive for Bitcoin demand going forward.