■Tether Bolsters Bitcoin Holdings with $780M Transfer, Reflecting Growing Institutional Interest
On Dec. 30, Tether, the leading issuer of stablecoins, transferred 8,404.5 BTC—valued at $780 million—into its corporate reserves. This marks Tether's most significant Bitcoin transaction since March, as per Arkham Intelligence. With Bitcoin trading at $92,500, Tether’s total Bitcoin holdings now exceed 83,759 BTC, worth approximately $7.75 billion.
●Strengthening Bitcoin Reserves
The transaction aligns with Tether’s commitment to allocate up to 15% of its net realized operational profits toward Bitcoin acquisitions, announced in May 2023. The previous large purchase was in March when Bitcoin crossed $70,000.
Tether now ranks as the second-largest private Bitcoin holder, following Block.one’s 140,000 BTC. Including public entities, it trails MicroStrategy, the dominant holder with 446,400 BTC.
●Corporate Adoption on the Rise
Bitcoin prices surged over 100% in 2024, peaking at $108,000 before settling lower. Firms like KULR Technology and Quantum BioPharma have joined the Bitcoin adoption wave. KULR's $21 million purchase in December spiked its stock by 40%, while Quantum diversified its treasury with a $1 million Bitcoin allocation.
●Broader Investment Strategy
Tether’s diversification extends beyond Bitcoin, with a $2 million investment in Arcanum Capital’s decentralized Web3 fund and a $775 million stake in Rumble, a platform championing free speech.
●States Exploring Bitcoin Reserves
Ohio has joined Texas and Pennsylvania in exploring Bitcoin reserves. Texas proposed the Strategic Bitcoin Reserve Act, while Pennsylvania suggested allocating 10% of its treasury to Bitcoin.
In parallel, corporate players like MicroStrategy and MARA Holdings continue to amplify their reserves. MARA recently acquired 11,774 BTC, and Riot Platforms announced a $500 million bond offering to expand its Bitcoin holdings.