According to reports, Tether has boosted its Bitcoin stash to nearly 80,000 BTC. That holding is worth more than $9 billion at current rates.
The company’s steady buying suggests it sees deep value in Bitcoin even when prices slide. In recent weeks, Tether’s balance sheet has leaned heavily on the world’s oldest crypto asset.
Some market watchers say that kind of commitment from a major player could shore up confidence in Bitcoin’s long-term prospects.
Bitcoin is undefeatable
Supporters have jumped in to back Ardoino’s take, pointing to Bitcoin’s history of bouncing back after big sell-offs. Based on reports from crypto forums and social feeds, many believe that only severe, lasting shocks can truly move the price for long.
Yet others caution that calling any asset “undefeatable” risks lulling investors into a false sense of security. They warn that new technologies could emerge and challenge Bitcoin’s top spot in years ahead.
He pointed out a Bollinger Band squeeze that briefly pushed Bitcoin down to $111,900 on Aug. 3, only for it to snap back up to $115,700.
That sudden U-turn trapped many bears who bet on further declines. Bollinger also said the same pattern doesn’t show up on crypto ETFs, since those funds don’t trade on weekends.
Bitcoin closed most sessions near the $115,000 mark this week, with Bitstamp data showing it trading at $115,200 at one point.
The coin has edged up slightly over the past 24 hours, but volatility remains a factor. Traders note that weekend gaps and low liquidity can trigger sharp moves in either direction.
Analysts and fund managers are parsing both the bullish spin from Tether’s boss and the caution flag from Bollinger’s camp.
Some say Bitcoin’s track record in the past decade—including weathering regulatory clampdowns, global economic shocks, and high-profile exchange failures—earns it the right to such bold labels.
Others argue that blind faith alone won’t protect investors from sudden market swings.
Featured image from Meta, chart from TradingView
