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Tether Adds 7,629 BTC Worth $705M After 9-Month Inactivity, Total Holdings Reach $7.68B
Dec 30, 2024, 02:45 PM
Tether, the issuer of USDT, has added 7,629 BTC, valued at approximately $705 million, to its Bitcoin reserves after a nine-month period of inactivity. This transaction was made with funds received from Bitfinex. Following this addition, Tether's total Bitcoin holdings now amount to 82,983 BTC, which is valued at around $7.68 billion. Tether has committed to using 15% of its quarterly profits to purchase Bitcoin, a strategy announced in May 2023. The average price at which Tether accumulated its Bitcoin holdings is approximately $36,125.
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