Tether has bought a large amount of bitcoins. The company that issues the USDT stablecoin has acquired 8,888 BTC worth $735 million in the first quarter of 2025.
This action underlines Tether’s long-term approach to amassing Bitcoin holdings, as Bitcoin had a poor first quarter with a 12% slump, one of the worst performances in the last seven years.
Tether now holds a total of 92,647 BTC in its reserves, which is equivalent to $7.64 billion. This has put the company in the sixth position in terms of the number of bitcoins it holds.
This is a staggering figure of $3.86 billion in unrealized profit from Tether’s Bitcoin holdings as per the data from Spot On Chain. Tether’s Bitcoin strategy comes after the company declared in May 2023 that it would dedicate 15% of its quarterly profits to buy Bitcoin.
Even though the market has recently shown some decline, Tether continues to be optimistic about BTC and keeps on buying it. Currently, the Bitcoin price is at $83,112, up by 1.94% with the market’s volatility on the rise.
In addition to its Bitcoin purchases, Tether has been creating more USDTs, with an extra billion minted on TronDAO within the last one day. This has taken Tether’s total to over $8 billion on the platform.
With new entrants into the stablecoin space with Ripple’s RLUSD and Circle expanding its operations, Tether remains the market leader.
Also Read: Strategy Buys 22,048 Bitcoin for $1.9B, Now Holds 528,185 BTC
