Tether, the issuer of the USDT stablecoin, purchased 8888 BTC for $734 million. This transaction aligns with the issuer’s strategy of regularly increasing reserves at the end of each quarter.
At the time of writing, the total amount of digital gold on the company’s balance sheet reached 92,646 BTC. The unrealized profit amounted to approximately $3.86 billion.
Tether’s bitcoin reserves are valued at $7.8 billion, making the company the sixth-largest holder of cryptocurrency in a single wallet, according to BitInfoCharts.
Tether first disclosed its crypto reserves in May 2023. At that time, the firm announced its intention to regularly invest up to 15% of its profits in digital gold.
On April 1, the “Japanese Strategy” company Metaplanet also reported purchasing 696 BTC for $67.9 million at an average price of $97,512.
The firm’s total assets reached 4046 BTC ($340 million). Metaplanet plans to accumulate 10,000 BTC by the end of 2025 as part of its bitcoin strategy.
Back on March 24, the Strategy crypto reserve exceeded 500,000 BTC. The company acquired 6911 BTC for $584.1 million.