Tether Holdings Trims 15.5% Bitdeer Stake, Selling 627K Shares
BTDR has more than doubled off its 52-week low of $6.916.
Summary
Tether Holdings, a significant beneficial owner, reduced its stake in Bitdeer Technologies by selling 627,021 shares between June 3-4 at prices ranging from $20.01 to $20.37. This transaction lowers Tether's holding to 15.5% of Bitdeer's outstanding stock. While the sale represents a small fraction of Tether's total position and occurred at prices above the current market, it signals a slight reduction in conviction from a major investor. This follows recent positive operational updates from Bitdeer, including robust Bitcoin mining results and progress on a new AI data center.
At the time of this announcement, BTDR was trading at $17.95 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $4.4B. The 52-week trading range was $6.92 to $27.80. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.