Tether, the issuer of the world's largest stablecoin USDT, continues to accumulate Bitcoin (BTC).
Accordingly, Tether purchased another BTC and lastly strengthened its reserves significantly by purchasing another 8,889 BTC.
With the latest purchase, Tether's total Bitcoin reserve has increased to over 75,000 BTC.
According to Arkham Intelligence data, Tether appears to have made its last BTC purchase from Bitfinex on March 31, 2024.
As you may remember, Tether announced its decision to purchase BTC in 2022 and announced its first purchase in the first quarter of 2023.
In these statements, Tether CEO Paulo Ardoino said about their strategy for investing in Bitcoin: “The decision to invest in Bitcoin, the world's first and largest cryptocurrency, is supported by its strength and potential as an investment asset.”
According to Arkham data, Tether's portfolio includes 75,354 Bitcoins worth $5.24 billion, and stablecoins such as USDT, EURT and XAUT.
*This is not investment advice.