The Plan: Tether Buys Nearly 9,000 BTC to Increase Bitcoin Reserves

At the moment of the transaction, USDT creator Tether added 8,888 Bitcoins worth $735 million. Arkham covered the popular stablecoin issuer's recent market action.

Arkham's website showed that the stablecoin business withdrew 8,888 Bitcoins from Bitfinex, a major exchange and Tether's sibling company, on Monday.

Tether's newest purchase brings its Bitcoin holdings to 92,647, worth $7.7 billion at market rates. With this new investment, Tether remains one of the largest Bitcoin holders.

In recent weeks, US President Donald Trump has prioritized a Strategic Bitcoin Reserve. Tether added Bitcoins to its massive crypto reserve on Monday.

Tether has one of the largest crypto reserves in the industry to support its stablecoin, USDT. Tether holds approximately 60% of the stablecoin market, with a $144 billion market value compared to $234 billion for the sector.

Tether became the sixth largest Bitcoin holder with its last transaction. Tether is the second-largest private Bitcoin holding behind Block.one, according to Bitcoin Treasuries. Tether's holdings are surpassed by Strategy (previously MicroStrategy) and the leading Bitcoin ETF providers.

Bitcoin Investment Commitment

Tether's newest Bitcoin purchase shows its dedication to Bitcoin. Interestingly, the corporation promised to acquire more Bitcoins with its net profit. In May 2023, the corporation pledged to acquire more Bitcoins with 14% of its net income.

Tether bought 8,404 Bitcoin in December, bringing its total to 83,759.

$1B USDT Reserves

Tether's recent Bitcoin acquisition corresponded with new tokens. According to Tron on-chain statistics, the stablecoin corporation issued $1 billion in tokens. Tether CEO Paolo Ardoino announced a new USDT.

Ardoino said additional USDT were minted, but they are not yet in circulation. They said the new USDT is in their inventory and would be utilized for future issue requests. Tether has produced $8 billion Tron tokens since the start of the year and $22 billion USDT last year.

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