Tether Increases Bitcoin Holdings by Nearly $900 Million in Q4
- Tether added approximately 9,850 BTC valued at around $876 million in Q4.
- The firm made a significant transfer of 8,888 BTC on January 1, worth about $778 million.
- Tether’s average acquisition cost for Bitcoin is approximately $51,100 per coin, yielding an unrealized gain of over $3.5 billion.
- In addition to Bitcoin, Tether plans to reinvest profits into the gold supply chain business.
- Despite market fluctuations, corporate treasuries continue accumulating Bitcoin, with recent purchases from other firms as well.
Tether’s strategy to acquire Bitcoin aligns with its policy announced in May to purchase up to 15% of quarterly profits in BTC. This ongoing accumulation reflects broader trends among corporate treasuries maintaining their positions despite market volatility.
In total, Tether acquired 8,888 BTC during Q4, significantly boosting its holdings amidst a challenging market environment.(Source)
