Tether's Giant Bitcoin Buy: What 8888 BTC Means for the Market

Tether just bought a big amount of Bitcoin. Crypto Patel reported via X that Tether actually acquired 8888 BTC worth $735M

In a surprising move, Tether just made a large purchase of 8,888 BTC for a total of $735M, according to Crypto Patel who reported via X about 10 hours ago.

"Is this the start of the next #Bitcoin rally?

After several months of silence, #Tether just bought 8,888 BTC for a total of $735M, about 10 hours ago.

Their holdings now stand at ~92,646 BTC valued at $7.68 BILLION!

Wallet Address: bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4

As a major stablecoin issuer, Tether's actions can have implications for the broader crypto market. Earlier this year, Tether began adding Bitcoin to its reserves. Each purchase has been closely followed by traders.

Earlier in 2023, when Tether first bought 8,888 BTC, it pushed up Bitcoin’s price by 2.5% in just one hour. By the end of 2023, Tether had bought another $380 million of Bitcoin, reaching a total holding of $2.8 billion.

On March 31, 2024, Tether received about 8,889 BTC from a Bitfinex wallet. At that time, this Bitcoin was worth about $618 million. After this buy, Tether had around 75,354 BTC, making them the seventh-largest Bitcoin holder in the world.

When Tether bought more Bitcoin in January 2025, they added $780 million to their BTC holdings, bringing their total to 83,759 BTC. At the time, the value was about $7.75 billion with Bitcoin trading near $92,500.

Whenever Tether buys Bitcoin, the price usually goes up. Their March 2024 purchase led to a 2.5% price jump within an hour. The January 2025 buy came before Bitcoin went up to $109,000.

Tether continues to buy Bitcoin for its reserves. Their actions matter to the market, and traders are watching to see what they do next.