TLDR
- Bo Hines said he feels sorry for people who sell their Bitcoin during this market phase.
- He advised crypto holders to never sell their Bitcoin even as volatility increases.
- Bitcoin is trading around $108,000 which is 14 percent below its recent all-time high.
- Whale wallets that bought near the peak are facing unrealized losses of approximately $6.95 billion.
- Hines joined Tether in August 2025 as a strategic adviser to lead its U.S. market expansion.
Bo Hines, former Trump crypto advisor and now Tether executive, said he “feels sorry” for Bitcoin sellers. His comments came as Bitcoin trades around $108,000 after dropping sharply earlier in October. The cryptocurrency market remains volatile amid growing uncertainty and investor caution.
Bitcoin Faces Pressure as Price Remains Below Peak
Bitcoin struggles to regain momentum after its October 10 drop, which sent prices tumbling below key support levels. Although Bitcoin recovered to $108,000, it still sits 14% lower than its $126,000 peak. This gap highlights ongoing market instability and increased selling pressure.
Newly formed whale wallets, created near recent highs, now carry significant unrealized losses, according to CryptoQuant data. These wallets hold Bitcoin at an average cost near $113,000, making them deeply underwater. The estimated combined loss stands at $6.95 billion, the largest since October 2023.
Despite these losses, some investors remain confident in Bitcoin’s long-term value and potential for a price rebound. Others, however, face increased pressure to exit due to sustained losses and economic uncertainty. This divergence adds to the broader market tension and unpredictability.
Bo Hines Reaffirms Bitcoin Commitment Amid Market Turmoil
Bo Hines emphasized long-term holding, stating, “I feel sorry for people that sell their Bitcoin.” He previously advised crypto investors to “never sell your Bitcoin.” His latest comments reinforce this stance during a time of heightened volatility.
Hines joined Tether as strategic adviser on August 19, 2025, after leaving the White House Crypto Council. At Tether, he leads U.S. market efforts and contributes to crypto regulatory policies. His influence at the stablecoin issuer continues to grow rapidly.
Tether recently launched plans for a new U.S.-regulated stablecoin called USAT, backed one-to-one with the dollar. The token will comply with the GENIUS Act, which governs stablecoin issuance in the United States. This marks a key step in Tether’s U.S. expansion.
Tether Boosts Bitcoin Holdings with Major Acquisition
Tether purchased 8,889 Bitcoin, worth nearly $1 billion, from Bitfinex, a closely affiliated crypto exchange. This transaction raised Tether’s total Bitcoin holdings to approximately $10 billion. The company has become one of the largest corporate holders of Bitcoin.
This move shows Tether’s growing confidence in Bitcoin’s long-term value despite current price weakness. The timing also aligns with broader efforts to strengthen its digital asset portfolio. Tether’s ongoing accumulation highlights its firm commitment to Bitcoin.
As the market fluctuates, Tether continues to expand its influence and holdings. Meanwhile, Hines’ words echo the broader belief among crypto advocates. Bitcoin remains at the center of strategic bets in the digital finance space.
