Tether, the issuer of the USDT stablecoin, has bolstered its reserves by adding $1 billion worth of Bitcoin, lifting its total BTC stash to $9.7 billion.
Blockchain data from Arkham Intelligence indicates that 8,889 BTC was transferred from a Bitfinex wallet to Tether’s address labeled “Bitcoin Reserves.” The increase coincides with USDT’s circulating supply approaching $175 billion, highlighting the scale of Tether’s role in the crypto ecosystem.
Historically, the company has regularly accumulated Bitcoin and gold at quarter-ends, with similar transactions reported last December, March, and September. In June, Tether also invested over $1.4 billion in BTC via Twenty One Capital, a treasury firm led by Strike CEO Jack Mallers.
The company’s second-quarter attestation showed $8.9 billion in BTC reserves, with its next disclosure expected in late October.
Despite recurring market speculation, CEO Paolo Ardoino has dismissed suggestions that Tether is liquidating Bitcoin for gold, reaffirming BTC’s position as a core part of its balance sheet strategy.
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