Tether, the issuer of the world's largest stablecoin USDT, has significantly expanded its Bitcoin holdings. According to on-chain data tracked by Arkham Intelligence, Tether deposited 7,629 BTC (worth approximately $700 million) into its strategic reserve account on the evening of May 30th.
Key Highlights of Tether’s Bitcoin Strategy
- Largest Acquisition Since March 2024: This marks Tether’s biggest Bitcoin reserve operation since purchasing 8,888.88 BTC earlier this year.
- Quarterly Bitcoin Investments: Since 2023, Tether has allocated 15% of its net profits quarterly to accumulate Bitcoin, diversifying USDT’s reserve assets.
- Current Holdings: Tether now holds 83,750 BTC, valued at over $7.76 billion, cementing Bitcoin as a core component of its asset portfolio.
Why Bitcoin? Tether’s Diversification Approach
Tether’s USDT is primarily backed by U.S. Treasuries and cash-equivalent assets, ensuring stability and generating yield. However, the company has actively diversified into emerging sectors like:
- Bitcoin Mining
- AI Development
- Decentralized Communication Technologies
This strategy reflects Tether’s proactive adaptation to market trends and long-term growth vision.
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Financial Performance: Record-Breaking Profits
In the first half of 2024, Tether reported:
- $5.2 billion net profit (H1 2024)
- $1.3 billion operating profit (Q2 alone)
These figures underscore Tether’s robust financial health and strategic asset management.
FAQ: Tether’s Bitcoin Holdings
Q1: How much Bitcoin does Tether own?
A: As of May 2024, Tether holds 83,750 BTC, worth ~$7.76 billion.
Q2: Why is Tether buying Bitcoin?
A: To diversify USDT’s reserves and hedge against traditional market volatility.
Q3: How often does Tether invest in Bitcoin?
A: Quarterly, using 15% of net profits.
Q4: What other assets back USDT?
A: Primarily U.S. Treasuries, cash, and now Bitcoin.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct independent research before making decisions.
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