Tether adds nearly $800 million in bitcoin, bringing holdings above 96,000 BTC

TL;DR:

The purchase is part of Tether's strategy to use up to 15% of its quarterly profits for bitcoin acquisitions.

Key Points:

Background:

Cryptocurrency markets continue to evolve with new developments affecting the broader digital asset ecosystem.

Why It Matters:

This development could influence BTC price action and market sentiment in the near term.