Tether’s New Bitcoin Gimmick: What on Earth Are They Up To Now? 😏

by

Well now, Tether, the outfit that mints USDT like their printing press is powered by promises, has swooped in and snatched up 4,812 Bitcoins, which—depending on who’s counting and if you blink—amounts to about $496.7 million. That’s a heap of virtual gold for a company whose business model is basically saying “trust me, bro.” But wait, don’t take your hat off yet: this shindig involves Cantor Equity Partners, so there’s more to it than meets the eye.

Tether, Cantor, and the Bitcoin Shuffle

Some clever folks at Arkham Intelligence (yes, like Batman’s crazy cousin, but with spreadsheets) squealed about Tether’s grand purchase. In a fine piece of internet finger-pointing on X, they waved their arms at a pile of BTC, noting Tether isn’t going to keep these fancy coins under their own mattress. No sir! Those shiny sats are headed for the wallets of Twenty One Capital—a bunch who love Bitcoin so much you’d think it was their only friend.

TETHER BOUGHT $450M OF BITCOIN

Tether has purchased 4,812 Bitcoin as part of a deal with Cantor Equity Partners.

These will be purchased by Twenty One Capital once the financing is closed.

Address: bc1qzup4k7zn9jur7a8kz0dnaernzyf60h8ez6s9cpmp23wfw5djhvusd4p0v3

— Arkham (@arkham) May 14, 2025

So, Twenty One Capital is sitting pretty with Tether’s backing, just twiddling their thumbs while waiting for one of those Special Purpose Acquisition Company things to finish up with Cantor. With these fresh Bitcoins, Twenty One now clutches 36,312 coins—enough digital pie for a long winter. And they’re strutting into third place among corporate coin-hoarders, behind only the ever-thirsty Strategy (with an eye-watering 568,840 BTC) and MARA Holdings, a crowd that digs Bitcoin like prospectors at a gold rush (48,237 BTC, to be exact).

Tether’s Dogged Bitcoin Hoarding 🏦

If you thought this was Tether’s first rodeo, partner, you ain’t been paying attention. Back in April, they grabbed 8,888 Bitcoins just when the market looked uglier than a coyote with a toothache. Apparently, buying the dip is their favorite hobby—better than fishing, and with bigger worms. This last grab shoves them closer to the top of the Bitcoin hoarder’s club, and if that doesn’t make you wonder what they’re plotting, you just haven’t read enough Twain.

Tether’s not shy about stacking satoshis. In fact, they now brim with 92,646.57 BTC. Average price paid? $82,591.34. Total outlay? $7,651,804,585—which sounds like the start of a tall tale you’d hear late at night down by the river, but it’s straight off their ledger (allegedly 🧐).

They’re putting their money where their code is, betting Bitcoin climbs higher than Huck Finn’s raft in flood season. And wouldn’t you know it, Bitcoin’s flexed back above $100,000, after a spell rougher than Aunt Polly’s Sunday stew. As I pen this, it’s trading around $103,232, and up 6.4% this week—enough to get the speculators dusting off their moon-landing metaphors. Some say we might just see a new all-time high, which would make for quite the spectacle. Place your bets, folks, and don’t forget to tip your riverboat pilot! 🚤💰

Read More

2025-05-14 20:26