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Paolo Ardoino, CEO of Tether, finally spoke up about Bitcoin’s price — something he rarely does. His message was not a price prediction, and Ardoino kept it simple, just welcoming Bitcoin back at $117,000. That short acknowledgment was enough to mark the level as important — not because of what he said but because of who said it.
Thus, the backdrop matters. Earlier this month, the price of the main cryptocurrency fell below $110,000 after a rough August. Since then, Bitcoin (BTC) has climbed more than $7,000, touching $117,272 today before easing to around $116,200 ahead of the Fed rate decision.
USDT sits at a $171 billion market cap and remains the main trading pair across global exchanges. On top of that, Tether itself holds 92,646.2 BTC, equivalent to around $10.76 billion, giving the company one of the largest direct corporate positions in the asset. When its CEO chooses to highlight a price point, it is not just commentary — it’s a marker that the market better to track.
A rare statement from the head of the company behind crypto’s biggest stablecoin simply confirmed that Bitcoin's recovery has reached a level with psychological and technical weight.
Bottom line
Bitcoin’s rebound is being carried by the usual drivers: $292.27 million in ETF inflows for the last day and low exchange reserves.
But the headline today is not another chart setup. It is that the CEO of Tether broke his silence to point at the number the entire market has been watching: $117,000.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team