Scott Melker: Tether sends 18,182 Bitcoin to Twenty One Capital
@scottmelker: Tether sends Bitcoin to Mallers
Tether, the prominent stablecoin issuer, has recently executed a significant transaction by sending 18,182 Bitcoins, equivalent to approximately $2 billion, to Twenty One Capital, a Bitcoin investment company founded by Jack Mallers.
This move underscores Tether's deep involvement in the cryptocurrency ecosystem, as well as its substantial influence. Jack Mallers, known for his work in the Bitcoin space, through his company, Twenty One Capital, is likely to utilize these assets to bolster investment and operational strategies. Cryptocurrency expert Scott Melker's tweet highlighting this transaction brings attention to the potential impacts on the market.
Tether's ability to move such a large amount of Bitcoin illustrates the liquidity and trust it commands, further solidifying its pivotal role in cryptocurrency markets. The implications of this transfer, particularly on market dynamics and investment strategies at Twenty One Capital, remain under close analysis by market participants.
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This development takes place amid increasing institutional engagement with digital assets, a trend explored in prior coverage of the US Treasury's consideration of a strategic Bitcoin reserve initiative. Additionally, the growing appetite for large-scale investment in the sector parallels earlier analysis of the substantial $9 billion inflow into Coinbase, underscoring shifting dynamics as key players like Tether and Twenty One Capital shape the market’s trajectory.
In the previous news, tweet author Scott Melker discussed VITALIK BUTERIN'S views on Ethereum scalability.
