Tether, the company behind the world’s largest stablecoin, USDT added another 70 million dollars in bitcoins to its reserves, extending a constant accumulation strategy linked to its stablecoin business.
Blockchain data from Arkham Intelligence shows that 951 BTC was moved on Wednesday from Bitfinex to a wallet labeled “Tether: BTC Reserve.” The address matches one previously confirmed by CEO Paolo Ardoino as the destination of the company’s previous purchases.
The firm did not respond to a request for comment on the purchase.
The wallet now contains 97,141 BTC, worth around $7.16 billion at current prices, placing Tether among the largest bitcoin holders globally. If Tether were a public company, it would be the second largest holder of BTC behind Strategy (MSTR), according to bitcointreasuries.net ranking.
The latest purchase is part of a policy introduced in 2023 to allocate up to 15% of operating profits earned to bitcoin. Unlike digital asset treasuries that raise capital to purchase cryptocurrencies, Tether uses excess profits generated by its core business.
USDT, Tether’s dollar-pegged token, is the largest stablecoin with a market capitalization of around $185 billion. The company reported more than $10 billion in net profits by 2025, driven by growth in USDT and rising revenue from US Treasury holdings.
Tether’s reserves are primarily made up of cash-like assets, with up to $141 billion in exposure to US government debt. It also reported $6.3 billion in excess reserves against $186.5 billion in liabilities, offering a cushion above issued tokens.
In addition to US Treasuries, Tether has been building positions in alternative assets. Its latest report also showed $17.4 billion in gold, highlighting a broader diversification strategy.
