Leading stablecoin issuer Tether, the company behind the world's largest stablecoin $USDT, has quietly added approximately $8,888,888 $BTC to its wallet for a total of approximately $618 million, bringing the company's total Bitcoin supply to approximately 75,354 #BTC .
The company's estimated bitcoin holdings make it the owner of the seventh largest bitcoin wallet in the world, containing nearly $5 billion worth of the flagship cryptocurrency.
It is worth noting that BitInfoCharts identified the largest known wallets with 248,597 and 180,010 bitcoins respectively as belonging to the Binance and Bitfinex exchanges.
These wallets are used for cold storage of funds on these trading platforms. They do not contain the bitcoins of the exchange, but the bitcoins of their users. Tether's large supply of Bitcoin is believed to be profitable, with the potential for unrealized profits of approximately $3 billion, but this figure pales in comparison to the total value of all Bitcoin in circulation.
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