Loading...
Market
Story
Tether Adds 8,404.48 BTC Worth $780M to Reserves, Total Holdings Reach $7.7B
Dec 30, 2024, 03:41 PM
Tether, the issuer of USDT, has added 8,404.48 Bitcoin (BTC) worth approximately $780 million to its reserves, marking its largest Bitcoin acquisition in nine months. This move brings Tether's total Bitcoin holdings to 83,758.57 BTC, valued at $7.7 billion. The acquisition included 7,628.92 BTC transferred from a Bitfinex-linked wallet to Tether's reserve address, followed by an additional 775.568 BTC. Tether's strategy involves using profits from short-term bonds to reinvest in Bitcoin, aiming to enhance its reserve outside of fiat dependence. This recent activity follows Tether's announcement in May 2023 to allocate up to 15% of its profits to Bitcoin purchases for reserve enhancement, after a period of 9 months of dormancy in its Bitcoin reserves.
View original story
Similar markets
100,000 to 110,000 BTC • 25%
Less than 90,000 BTC • 25%
90,000 to 100,000 BTC • 25%
More than 110,000 BTC • 25%
Above $11 billion • 25%
$9 billion to $11 billion • 25%
Below $7 billion • 25%
$7 billion to $9 billion • 25%
$35,000 to $37,000 • 25%
Above $39,000 • 25%
$37,001 to $39,000 • 25%
Below $35,000 • 25%
More than $45,000 • 25%
$40,000 to $45,000 • 25%
$35,000 to $40,000 • 25%
Less than $35,000 • 25%
More than 20% • 25%
10% to 15% • 25%
Less than 10% • 25%
15% to 20% • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
10% to 15% • 25%
15% to 20% • 25%
Less than 10% • 25%
More than 20% • 25%
Below $30,000 • 25%
Above $50,000 • 25%
$40,001 to $50,000 • 25%
$30,000 to $40,000 • 25%