– Tether increased its Bitcoin reserves to 87,296 BTC after transferring about $1 billion from Bitfinex wallets
– The move took place as Bitcoin briefly dipped below $100,000 before rebounding above $102,000
– Tether now ranks as the sixth-largest global Bitcoin holder, with unrealized profits nearing $4.55 billion
Tether has expanded its Bitcoin holdings after executing two large transactions from Bitfinex’s hot wallets to its reserve address. On-chain data shows that the company added roughly $1 billion in Bitcoin, bringing its total to 87,296 BTC, valued at approximately $8.9 billion. The accumulation cements Tether’s position as the sixth-largest Bitcoin (CRYPTO: $BTC) holder globally and the second-largest among private entities.
According to blockchain data from Arkham Intelligence, Tether initiated two large transfers: first, withdrawing 961 BTC worth approximately $97.18 million, followed by a larger move of 8,888 BTC, equivalent to around $1 billion, from Bitfinex.
https://twitter.com/EmberCN/status/1986584885415608645
Strategic Accumulation Reflects Long-Term Confidence
Tether’s purchase occurred during a brief market correction when Bitcoin slipped below $100,000 earlier this week. The timing indicates a potential “buy-the-dip” strategy, diverging from Tether’s usual pattern of quarterly reserve allocations. The company has maintained a consistent policy since 2023 of allocating 15% of its net profits to Bitcoin reserves as part of a broader diversification effort.
Tether’s growing reserve now represents a large portion of institutional Bitcoin holdings. Based on data from Bitcoin Treasuries, the firm’s 87,296 BTC position has an average acquisition price of approximately $49,121 per coin. With Bitcoin trading around $102,000, Tether’s unrealized profit is estimated at $4.55 billion.
The stablecoin issuer ranks behind only Block.one among private corporations with substantial Bitcoin reserves. Block.one currently holds approximately 140,000 BTC, while institutional leaders such as Strategy (NASDAQ: $MSTR) and Galaxy Digital (NASDAQ:$GLXY) also maintain large holdings. ETFs collectively control around 7% of Bitcoin’s circulating supply, or roughly 1.53 million BTC, led by issuers such as BlackRock (NYSE: $BLK) and Fidelity.
Tether’s continued accumulation reflects an assertive approach to digital-asset management. By leveraging profits from its $183.3 billion USDT market capitalization, the company has effectively positioned itself as a key player in Bitcoin’s institutional ecosystem.
USDT (CRYPTO: $USDT) remains the dominant stablecoin, far surpassing Circle’s USDC (CRYPTO: $USDC), which has a market capitalization of $75 billion. Most of Tether’s circulating supply resides on Ethereum (CRYPTO: $ETH) and Tron (CRYPTO: $TRX), accounting for 47.92% and 42.08%, respectively.
