After acquiring another $380 million worth of Bitcoin, Tether holds $2.8 billion worth of BTC
At the end of the last quarter, stablecoin issuer Tether bought another $380 million worth of bitcoins, bringing the organization's total assets to 66,465 BTC ($2.8 billion).
Tether began accumulating Bitcoin in September 2022, starting with the acquisition of 33,980 BTC. Since then, the firm has regularly replenished its bitcoin reserves every quarter. The second largest purchase occurred in March 2023, in which the organization took possession of 15,915 BTC. According to blockchain data, the latest purchase of 8,888 BTC, made at the end of the fourth quarter of 2023, was the third largest purchase for Tether.
Tether first disclosed its Bitcoin reserves in May 2023 as part of its Q1 attestation report. Last August, 21.co analyst Tom Wang identified an address believed to belong to Tether. If this assumption is correct, the company should be considered the 11th largest holder of Bitcoin.
