Social media is buzzing with rudimentary speculation that $BSTR Inc, the world’s 4th largest public bitcoin treasury company, got its 25,000 $BTC from Tether.
The Adam Back-Cantor Fitzgerald deal sparked a brief rally to $16.50 before round-tripping below $11.80... 🧵
Speculation stems from two clues: Cantor Fitzgerald manages Tether’s assets and backed Tether’s largest public deal with CEP.
Swan Bitcoin’s @coryklippsten questioned whether Tether was behind the 25,000 Cayman Islands-based BTC, doubting Blockstream had sufficient quantities.
BSTR's press release only disclosed that the 25,000 $BTC came from "founding shareholders, advised by Blockstream Capital Partners" without further details.
Internet sleuths found filings about the Celsius bankruptcy estate claiming a possible clawback of up to 57,429 $BTC from Tether.
This raises questions about whether BSTR’s bitcoin might become encumbered by future court orders.
However, skeptics note @Blockstream raised capital at lower BTC prices historically and is full of early Bitcoiners who could have accumulated significant holdings since 2014.
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