In a series of posts on the newly rebranded X platform, analysts at CryptoQuant went into great detail, trying to debunk the magnitude of Tether’s BTC ownership.
In its latest quarterly report, Tether, which issues the USDT stablecoin, claimed to have about $1.6 billion worth of BTC in its vaults, effectively pushing it up to 11th on the Bitcoin holders list.
Crypto researcher and data analyst Tom Wan then shared details of a Bitcoin address he believed belonged to Tether, which held approximately 55,000 BTC, a number commensurate with the market value of Tether’s claim.
1/ .@Tether_to BTC balance increased by $176M compared to last q
– Using the price as of 30 Jun, it is estimated that they hold ~55,022 BTC
– Last Q, I mentioned the below address could belong to Tether:
bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4 pic.twitter.com/90DGmqQvLS
— Tom Wan (@tomwanhh) August 4, 2023
However, according to CryptoQuant, if the wallet Wan identified belongs to Tethe
We współpracy z: https://cryptopotato.com/is-tether-really-the-11th-biggest-bitcoin-holder-cryptoquant-chips-in/
