Tether Expands Bitcoin Holdings to $2.8 Billion

At the close of the fourth quarter of 2023, Tether acquired an additional 8,888 BTC valued at $380 million. The company’s balance now includes 66,465 BTC worth approximately $2.8 billion, reports The Block.

The USDT issuer first purchased digital gold in September 2022, acquiring 33,980 BTC. The second-largest purchase occurred in March 2023, with 15,915 BTC.

The current investment ranks third in terms of the number of coins acquired.

Although Tether has not officially disclosed its Bitcoin addresses, in August of last year, 21.co analyst Tom Wan identified a wallet he estimated to belong to the company.

The USDT issuer is currently the 11th largest holder of the leading cryptocurrency.

Back in May 2023, Tether first disclosed its Bitcoin reserves. At that time, the company also announced its intention to regularly invest up to 15% of its profits in digital gold.