Tether Expands Bitcoin Holdings by 961 BTC Worth $973 Million
Tether’s BTC holdings, acquired since 2023 using 15% of company profits, now rank sixth globally, reflecting a $4.55 billion unrealized gain amid rising prices.
BTC
USDT
Summary
Tether, issuer of the USDT stablecoin, holds 87,296 BTC valued at $8.84 billion, making it the sixth-largest Bitcoin wallet globally. The company has purchased Bitcoin since 2023, allocating 15% of its profits at an average price of $49,121 per BTC. This strategy has yielded an unrealized gain of $4.549 billion, underscoring Tether’s growing role as a major corporate holder of Bitcoin.
Terms & Concepts
- BTC: Abbreviation for Bitcoin, the world’s first and largest cryptocurrency by market capitalization.
- USDT: A stablecoin issued by Tether, pegged to the US dollar to maintain a stable value.