Tether獲得8,888 BTC，將其定位為第六大比特幣持有人

USDT Stablecoin的發行人Tether已通過購買7.35億美元的購買力加強了其比特幣持有量

Tether, the issuer of the USDT stablecoin, has significantly strengthened its Bitcoin holdings with a massive purchase of 8,888 BTC in the first quarter of 2025, amounting to approximately $735 million at current market prices.

USDT Stablecoin的發行人Tether在2025年第一季度大量購買了8,888 BTC，從而大大加強了其比特幣持有量，以目前的市場價格高達約7.35億美元。

This acquisition has positioned the company as the sixth-largest Bitcoin holder globally, bringing its total Bitcoin reserves to 92,647 BTC, which is valued at approximately $7.64 billion.

此次收購將該公司定位為全球第六大比特幣持有人，將其總比特幣儲量提高到92,647 BTC，價值約為76.4億美元。

Huge Q1 BTC Purchase by Tether as It Deepens Bitcoin Exposure

巨大的Q1 BTC通過Tether收購，因為它加深了比特幣的暴露

The purchase aligns with Tether's long-term strategy of allocating 15% of its net realized operating profits each quarter to Bitcoin acquisitions.

購買的購買與Tether的長期策略相吻合，即每季度將其淨收入的15％分配給比特幣收購。

This plan was initially announced in May 2023, with the asset being gradually accumulated throughout each quarter and settled at the end.

該計劃最初於2023年5月宣布，資產在每個季度逐漸累積，並在最後解決。

The purchase comes despite Bitcoin's 12% decline in Q1 2025, marking the worst quarterly performance for the asset in seven years.

儘管比特幣在2025年第1季度下降了12％，但購買了這一購買，這是該資產七年來最糟糕的季度表現。

The company is known for maintaining its reserves with cash, short-term securities, and other traditional financial assets to ensure liquidity and meet user demand for quick redemptions of USDT.

該公司以現金，短期證券和其他傳統金融資產維護其儲備而聞名，以確保流動性並滿足用戶對快速贖回UST的需求。

However, the inclusion of Bitcoin in its reserves could put the stablecoin at risk if the cryptocurrency faces a major downturn, which could affect the value of USDT.

但是，如果加密貨幣面臨重大的低迷，可能會影響USDT的價值，則將比特幣包含在其儲備金中可能會使Stablecoin處於危險之中。

The Problems a Bitcoin Bear Market Could Bring to Tether

比特幣熊市場可能帶來的問題

The crypto heatmap on Monday morning shows that Bitcoin is trading at $84,026, showing a 4% gain in the past 24 hours.

週一上午的加密熱圖顯示，比特幣的交易價格為84,026美元，在過去24小時內增長了4％。

The asset dipped to a daily low of $81,314.21, but recovered to reach a high of $84,190.00.

該資產降至每日低點81,314.21美元，但收回到高達84,190.00美元。

This uptrend in Bitcoin follows over $226.91 million in liquidations over the past 24 hours, which includes $147.45 million worth of BTC shorts, according to CoinGlass data.

根據Coinglass Data的數據，這一比特幣的上升趨勢在過去24小時內的清算量超過2.2691億美元，其中包括價值1.4745億美元的BTC短褲。

Earlier today, MicroStrategy announced an additional Bitcoin acquisition.

今天早些時候，Microstrategy宣布了另外的比特幣收購。

The company, now rebranded as Strategy to reflect its broader vision, has acquired 22,048 BTC for about $1.92 billion at an average price of $86,969 per coin.

該公司現在被重新命名為反映其更廣泛願景的戰略，已以約19.2億美元的價格收購了22,048 BTC，平均價格為每枚硬幣86,969美元。

This brings Strategy's total Bitcoin holdings to 528,185 BTC, valued at approximately $35.63 billion at current market prices.

該戰略的總比特幣持有量達到528,185 BTC，價值約為356.3億美元。

Could BTC’s Volatility Undermine USDT’s Stability?

BTC的波動性會破壞USDT的穩定性嗎？

While Tether's Bitcoin accumulation strategy signals substantial institutional confidence in the asset, it also raises concerns regarding the stability of USDT.

儘管繫繩的比特幣積累策略信號對資產的機構信心表示了巨大的信心，但它也引起了人們對USDT穩定性的擔憂。

In May 2023, Tether disclosed plans to allocate a portion of its quarterly profits to investing in Bitcoin as part of its strategy to diversify its reserves.

2023年5月，Tether披露了將其季度利潤的一部分分配給對比特幣投資的計劃，這是其儲備多樣化的戰略的一部分。

The company aims to invest 15% of its net realized operating profits each quarter, with the asset being gradually acquired throughout the quarter and settled at the end.

該公司的目標是投資其淨收入的15％，每季度實現運營利潤，資產在整個季度逐漸收購，並在最後解決。

Despite Bitcoin's 12% decline in Q1 2025, marking the worst quarterly performance for the asset in seven years, Tether remained committed to its investment approach.

儘管比特幣在2025年第1季度下降了12％，這標誌著該資產在七年來最糟糕的季度表現，但Tether仍然致力於其投資方法。

Annually, Teather’s net income ranges from $600 million to $1 billion. At current prices, 15% of Teather’s 2024 net income would be about $450 million per quarter, which could buy approximately 5,400 BTC.

每年，Teather的淨收入從6億美元到10億美元不等。以目前的價格，Teather 2024年淨收入的15％約為每季度4.5億美元，可購買約5,400 BTC。

However, Teather’s purchases varied significantly, and in Q1 2025, it acquired 8,888 BTC, bringing its total to 92,647 BTC, valued at approximately $7.64 billion.

但是，Teather的購買量差異很大，在2025年第1季度，它收購了8,888 BTC，其總數達到92,647 BTC，價值約為76.4億美元。

This makes Teather the sixth-largest Bitcoin holder globally, according to public data.

根據公共數據，這使得Teath使全球第六大比特幣持有人。

The company’s reserve wallet is also receiving regular deposits of TRX and other tokens used on the TRC20 standard.

該公司的儲備錢包還正在收到定期的TRX和其他標准上使用的代幣。

Moreover, the crypto exchange Bitfinex, which is affiliated with Teather, is making regular withdrawals of BTC to private addresses.

此外，隸屬於Teather的加密交易所Bitfinex正在定期將BTC撤回到私人地址。

These actions suggest that Bitfinex might be involved in activities such as lending or derivatives trading.

這些行動表明，Bitfinex可能參與了諸如貸款或衍生品交易之類的活動。

The company’s reserve wallet now holds approximately $7.65 billion worth of Bitcoin.

該公司的儲備金現在擁有約76.5億美元的比特幣。

Such withdrawals from exchange hot wallets to private addresses are often seen as a bullish signal, as they reduce selling pressure in the short term by removing Bitcoin from the market’s immediate liquidity.

這種從交換熱錢包到私人地址的提款通常被視為看漲信號，因為它們在短期內通過從市場的直接流動性中刪除比特幣來減輕銷售壓力。

In other news, a recent report from Arcane Research highlighted that Bitcoin's price tends to rise more slowly during periods of low volatility and vice versa.

在其他新聞中，奧術研究的最新報告強調，比特幣的價格在低波動率的時期往往更慢，反之亦然。

This finding is based on an analysis of Bitcoin's historical price movements over the past 15 years.

這一發現是基於對比特幣在過去15年中的歷史價格變動的分析。

The report also notes that Bitcoin's price tends to decrease more rapidly during periods of high volatility, which can

該報告還指出，比特幣的價格在高波動性期間往往會更快地降低，這可以