Stablecoin issuer Tether has significantly expanded its Bitcoin holdings, acquiring 8,888 BTC worth around $600 million. This latest purchase was revealed through on-chain data rather than an official announcement.

The address that received Tether's recent Bitcoin purchase now holds a massive amount – over 75,000 BTC, valued at roughly $5.3 billion. Earlier in May 2023, Tether announced plans to add Bitcoin to its reserves, investing up to 15% of their quarterly profits in the cryptocurrency. $BTC $USDT

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