As MiCA sparks uncertainty in Europe, Tether has transferred 7,629 BTC to its reserves, boosting its total holdings to $7.8 billion.

Getting your audio player ready...

Tether, the largest stablecoin issuer, has added $700 million worth of Bitcoin to its reserves.

This development comes as CEO Paolo Ardoino addresses the fear, uncertainty, and doubt (FUD) surrounding USDT’s status in Europe following MiCA’s implementation deadline on December 30.

Details From the Latest Purchase

According to on-chain data from Arkham Intelligence, Tether transferred 7,629 BTC to its reserves on December 30, 2024, moving the tokens from sister exchange Bitfinex’s hot wallet to its corporate crypto reserve address.

BitInfoCharts shows that this move is the largest transaction to the company’s strategic Bitcoin reserve since March 2024, when it transferred 8,888.88 BTC. Tether also made a similar transfer of 8,888.88 BTC on December 30, 2023. With this new addition, the company now holds a total of 83,758 BTC, worth around $7.8 billion at current prices.

The latest development is part of its ongoing strategy to diversify its portfolio, with the announcement made in May 2023 as part of the firm’s bid to create additional revenue streams.

Following the declaration, the stablecoin operator committed to regularly allocating up to 15% of its net realized operating profits toward purchasing the flagship cryptocurrency. Beyond the buys, Tether has been diversifying its investments into emerging sectors such as AI, Bitcoin mining, and decentralized communications.