Tether, the stablecoin issuer, added about $780 million worth of Bitcoin to its institutional reserves in December. According to Arkham Intelligence data, wallets belonging to Tether’s Bitcoin reserve received separate transfers of 7,628.9 BTC and 775.6 BTC. With these additions, Tether’s total Bitcoin holdings reached 83,759 BTC, worth about $7.75 billion. Tether had previously announced that it would allocate up to 15% of its net profit to buying Bitcoin in May 2023. The move would make Tether the second-largest holder of Bitcoin among private companies. The rise in Bitcoin prices has increased interest in institutional Bitcoin treasuries. Share your thoughts in the comments.