Tether, the leading stablecoin issuer, significantly increased its Bitcoin holdings in Q1, acquiring 8,888 BTC worth $735 million, according to on-chain analyst EmberCN. Tether's Bitcoin Strategy This purchase aligns with Tether's May 2023 announcement to allocate 15% of net profits to Bitcoin. ARKM data indicates the BTC was withdrawn from Bitfinex to a Tether-estimated address. Tether's Current Bitcoin Holdings Currently, Tether holds 92,647 BTC valued at $7.64 billion, making it the 6th largest BTC holder. With an average purchase price of $41,147, their unrealized profit stands at $3.83 billion. This strategic move underscores Tether's commitment to Bitcoin and its potential for long-term value. ```

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