Tether Becomes Major Bitcoin Buyer, Surpassing ETFs
- Tether has increased its Bitcoin reserves by over 27,700 BTC in the past year.
- With a total of 100,521 BTC, Tether is now the third-largest corporate holder of Bitcoin globally.
- Approximately 7,900 BTC are held in reserves to support USDT, while 19,800 BTC are allocated to Twenty One Capital.
- Tether began systematic purchases of Bitcoin in May and plans to allocate 15% of quarterly profits towards these acquisitions.
- Major competitors include BlackRock IBIT with 394,600 BTC, Grayscale Mini Bitcoin Trust with 44,200 BTC, and Fidelity FBTC with 27,900 BTC.
Tether’s strategy combines stablecoin backing with long-term investments in assets like Bitcoin and gold. This diversified approach aims to enhance resilience against market fluctuations.
As Tether holds a reserve valued at approximately $11.32 billion and ranks third among corporate holders, its strategic moves position it as a key player in the cryptocurrency market.(Source)
