Bitcoin
Bitcoin (BTC)
$104,037.00 0.17599
Bitcoin price
Ethereum
Ethereum (ETH)
$2,491.84 -1.42508
Ethereum price
BNB
BNB (BNB)
$649.32 -1.02248
BNB price
Solana
Solana (SOL)
$151.62 -1.56516
Solana price
XRP
XRP (XRP)
$2.14 -0.74737
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000128 2.59173
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 1.25442
Pepe price
Bonk
Bonk (BONK)
$0.0000161 1.25611
Bonk price
dogwifhat
dogwifhat (WIF)
$0.82524 3.2571
dogwifhat price
Popcat
Popcat (POPCAT)
$0.355523 0.19062
Popcat price
Bitcoin
Bitcoin (BTC)
$104,037.00 0.17599
Bitcoin price
Ethereum
Ethereum (ETH)
$2,491.84 -1.42508
Ethereum price
BNB
BNB (BNB)
$649.32 -1.02248
BNB price
Solana
Solana (SOL)
$151.62 -1.56516
Solana price
XRP
XRP (XRP)
$2.14 -0.74737
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000128 2.59173
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 1.25442
Pepe price
Bonk
Bonk (BONK)
$0.0000161 1.25611
Bonk price
dogwifhat
dogwifhat (WIF)
$0.82524 3.2571
dogwifhat price
Popcat
Popcat (POPCAT)
$0.355523 0.19062
Popcat price
Bitcoin
Bitcoin (BTC)
$104,037.00 0.17599
Bitcoin price
Ethereum
Ethereum (ETH)
$2,491.84 -1.42508
Ethereum price
BNB
BNB (BNB)
$649.32 -1.02248
BNB price
Solana
Solana (SOL)
$151.62 -1.56516
Solana price
XRP
XRP (XRP)
$2.14 -0.74737
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000128 2.59173
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 1.25442
Pepe price
Bonk
Bonk (BONK)
$0.0000161 1.25611
Bonk price
dogwifhat
dogwifhat (WIF)
$0.82524 3.2571
dogwifhat price
Popcat
Popcat (POPCAT)
$0.355523 0.19062
Popcat price
Bitcoin
Bitcoin (BTC)
$104,037.00 0.17599
Bitcoin price
Ethereum
Ethereum (ETH)
$2,491.84 -1.42508
Ethereum price
BNB
BNB (BNB)
$649.32 -1.02248
BNB price
Solana
Solana (SOL)
$151.62 -1.56516
Solana price
XRP
XRP (XRP)
$2.14 -0.74737
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000128 2.59173
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000114 1.25442
Pepe price
Bonk
Bonk (BONK)
$0.0000161 1.25611
Bonk price
dogwifhat
dogwifhat (WIF)
$0.82524 3.2571
dogwifhat price
Popcat
Popcat (POPCAT)
$0.355523 0.19062
Popcat price

Tether adds 8,888 Bitcoins to its reserves, holding more than 75K Bitcoin

Dorian Batycka
Edited by
News
Tether adds 8,888 Bitcoins to its reserves, holding more than 75K Bitcoin

Stablecoin issuer Tether made headlines on March 31, as it acquitted 8,888 Bitcoin, valued at $618 million.

The recent acquisition significantly boosts Tether’s reserves prior to the upcoming Bitcoin halving event. With this, the total number of Bitcoins in the stablecoin issuer’s treasury has surpassed 75,000. The Bitcoins were purchased at an average price of  $30,305.

Tether’s Bitcoin reserves are now valued at $5.3 billion. Its Bitcoin wallet is also up 128%, with unrealized profits amounting to over $2,94 billion.

Tether has been actively strengthening its Bitcoin reserves since the first quarter of 2023. The firm has also unveiled plans to invest up to 15% of its corporate profits generated from excess USDT reserves in Bitcoin. According to Tether, this will help diversify the stablecoin’s backing assets. 

According to data from Bitinfocharts, this acquisition makes Tether the seventh largest Bitcoin holder in the world. At the time of publication, Binance’s cold wallet held the first position, valued at $17.31 billion.

“The decision to invest in Bitcoin, the world’s first and largest cryptocurrency, is underpinned by its strength and potential as an investment asset,” Tether CEO Paulo Ardoino has previously said regarding Tether’s strategy to invest in Bitcoin.

“Our investment in Bitcoin is not only a way to enhance the performance of our portfolio, but it is also a method of aligning ourselves with a transformative technology that has the potential to reshape the way we conduct business and live our lives.”

In its Q4 report for 2023, the firm revealed that Bitcoin contributed $2.8 billion to its consolidated reserves. In November 2023, the firm revealed its intention to venture into cryptocurrency mining, with plans to invest in Bitcoin mining facilities. The announcement noted that Tether’s goal is to establish mining operations in Uruguay, Paraguay, and El Salvador.

The development follows Tether’s USDT hitting a record market cap of $100 billion on March 4, following a 9% year-to-date growth rate.

Furthermore, Tether also announced on March 26 the launch of its dedicated AI division. The company will develop open-source AI models and collaborate with other firms to incorporate these into commercial offerings.