According to reports, @EmberCN monitored that USDT issuer Tether withdrew 7628.9 BTC (approximately $705 million) from Bitfinex. This is likely the BTC purchased by Tether this quarter: Tether announced in May 2023 that it would regularly use 15% of its company profits to purchase Bitcoin to enhance reserves. Tether currently holds a total of 82983 BTC (worth $7.68 billion), making it the 6th largest BTC wallet address. Its average purchase price is approximately $36222, with a current floating profit of up to $4.72 billion.