Bitcoin Price Sits at $77K as Tether Reveals 150,000 BTC Holdings and Midterms Test Recovery Hopes

• Tether’s CEO disclosed approximately 150,000 BTC worth $11.5 billion, without specifying when the coins were purchased
• Bitcoin price gained 24.5%–92.3% in the year following the past three US midterms, though that limited history offers no guarantee
• A hypothetical $5,000 Bitcoin purchase at $77,139 would become $8,172.26 at its previous record of $126,080, a 63.45% gain

Tether’s chief executive has put a multibillion-dollar Bitcoin holding on the record, just as Americans head to the polls. The Bitcoin price remains far below its peak, leaving traders to weigh that disclosure against another exchange security scare. Bulls can point to gains after previous US midterm elections. The harder question is what happened between election day and those eventual returns, and how much ground buyers would need to recover from here.

Also Read: Oracle Stock Drops 8.8% as $20B AI Funding Plan Overshadows Stephens’ $213 Target

Tether Discloses 150,000 BTC as Bitcoin Price Stays Near $77K

Paolo Ardoino said Tether owns “give or take 150,000 Bitcoin” during his keynote in Lugano. That position is worth roughly $11.5 billion. Ardoino’s estimate of Tether’s Bitcoin holdings exceeds the approximately 100,060 BTC implied by its September USDT reserve report.

He did not explain where the additional coins sit or when they were acquired, so the disclosure does not establish a new 50,000 BTC purchase.

Tether’s latest quarterly disclosure also reported $1.5 billion in net operating profit and $7.95 billion in reserves above its liabilities.

Also Read: Palantir’s Commercial Sales Top Government Revenue as Apple Reports $114.5B, Shaping Wall Street Today

BTC price stood around $77,287 on November 3, roughly 39% below its record.

In addition, the Mercado Bitcoin hack prompted the Brazilian exchange to suspend deposits and withdrawals on November 2. Security firms estimated more than $40 million in affected assets. The exchange said customers suffered no losses and no data was breached.

US Midterm Elections Offer a Complicated Precedent

A CryptoQuant-hosted analysis reports Bitcoin gained 24.5%, 44.9% and 92.3% in the 12 months following the 2014, 2018 and 2022 midterms, respectively.

But Bitcoin also fell 45.5% in the first month after the 2018 election. A positive result a year later offered little protection to someone who needed to sell during that decline. Three elections are also too few to establish a dependable trading pattern.

What a Return to Bitcoin’s Record Would Mean

MarketCapOf’s profit calculator shows the recovery needed. Using a $77,139 entry price, a hypothetical $5,000 Bitcoin investment would become $8,172.26 at $126,080, its previous all-time high. The profit would be $3,172.26, or 63.45%, before fees and taxes.

That sell price is a historical reference rather than a forecast. Recovering from a roughly 39% drawdown requires a considerably larger percentage gain, a distinction that matters more to a new buyer than the fact that Bitcoin finished higher after three previous elections.

Also Read: NEAR Price Slips 8% as 36% Issuance Cut Passes Vote and Intents Reports Record Revenue