Tether no gree say dem dey sell-off BTC, confirm say Bitcoin-gold dey
Tether dey deny say dem sell off BTC and confirm say dem get hybrid reserve strategy. Recent analysis talk say dem Bitcoin holdings drop from 92,650 BTC for Q1 go 83,274 BTC for Q2, wey mean say dem fit don sell for gold. But 19,800 BTC dem allocate to investment arm dem wey be Twenty One Capital (XXI), wey make net BTC reserves increase to over 100,521 BTC (wey worth about $11.17 billion). Tether CTO Paolo Ardoino talk say no Bitcoin dem sell. E talk say the issuer now get about $8.7 billion for gold (about 80 tons) for Zurich and dem invest $105 million for gold royalties through Elemental Altus. Tether gold-backed token, XAUT, don pass $1.3 billion market cap. By deny say dem sell BTC, Tether dey show say dem trust their Bitcoin reserves and the way dem diversify their reserves.
Bullish
Tether dey deny say dem dey sell-off BTC as e redirect e reserves to im investment arm plus add more Bitcoin, weh mean say e get strong confidence for im main reserve asset. For short term, dis kin boost market sentiment and support BTC price as traders dey see dis renewed accumulation by one big stablecoin issuer as good demand. For long term, Tether diversified reserve model, weh include plenty gold and land investment, fit stabilize e backing and reduce sell pressure, anyhow fit make Bitcoin price steady and strong against market wahala.