Leading stablecoin issuer #Tether has rekindled its drive to stack Bitcoin after shifting millions worth of the premier asset to its reserve wallet on Monday.
According to market intelligence platform Arkham, an address marked as the Tether Bitcoin reserve amassed 8,404 BTC worth $776.6 million on Monday. The data confirmed that the wallet received the assets from two separate addresses.
Tether Acquires New Bitcoins
The first transaction happened around 14:01 (UTC), with Tether receiving 7,629 BTC ($705 million) from crypto exchange Bitfinex’s hot wallet. An hour later, the wallet tied to the stablecoin issuer gulped another 775.56 BTC from the address “bc1qh,” totaling 8,404 BTC ($776.6 million).
Meanwhile, Tether’s Monday purchase took its total holdings to 83,759 BTC, worth $7.77 billion. With the latest buy-in, the issuer is now the second-largest privately owned Bitcoin holding company, just below blockchain firm Block.one.
Moreover, this is Tether’s first notable transaction in nine months. The last transaction on its Bitcoin reserve wallet was on March 31, when it purchased 8,888 BTC ($618 million).
Tether Bitcoin Purchase
