#数字资产动态追踪 Tether has once again made a big move, directly investing $779 million in Bitcoin. This stablecoin giant has long been employing this strategy—converting part of its reserves into BTC. It’s nothing new, but each move clearly signals something.

Why do this? First, look at the underlying logic: institutions holding hundreds of billions of dollars making such allocation decisions are surely based on careful consideration. This itself is a vote of confidence in Bitcoin’s long-term value. Second, the actual effect—during times when the market is overwhelmed by panic sentiment—such large buy orders can serve as a defensive line, supporting the price. Third, on a more practical level—holding traditional assets like government bonds, which no longer offer attractive yields—stablecoin issuers need to find assets with growth potential to maintain the health of their business models.

However, there’s also a hidden risk. Tether’s Bitcoin exposure is increasing, indicating a shift in asset allocation structure. If Bitcoin experiences a sharp decline later, will USDT’s redemption capacity be affected? This is a long-term concern to watch.

The $779 million purchase is indeed a strong confidence boost for the market in the short term, especially in supporting stable price expectations.