Tether added nearly 8.9K BTC to its assets in the Q1 2024

Apr 02, 2024
According to Arkham Intelligence network trackers, the issuer of the world's largest stablecoin, USDT Tether, added slightly less than 8,889 BTC to its assets in the first quarter of 2024.

Despite the fact that Tether representatives had not previously officially announced the purchase of Bitcoin, 8,888,888 BTC was transferred to the company’s crypto wallet on March 31. The company itself has never hidden its intention to use part of the profits to purchase Bitcoin.

Currently, 75,354 BTC worth about $5.2B is stored in the Tether crypto wallet. with the current value of Bitcoin at $69K. The profit of the USDT issuer is approximately $3B.