At the end of March, the issuer of the USDT stablecoin, Tether, increased their bitcoin reserves by 8,888 BTC, which is $618 million in monetary terms. They now have 75,354 BTC, which is equivalent to $5.23 billion.
Data: Blockchain.com.
Thanks to a recent deal, Tether has risen to seventh place in the ranking of the largest bitcoin holders with a 0.359% share of the total supply of this cryptocurrency among private and public organizations.
Tether is currently ranked behind MicroStrategy (214,246 BTC), Grayscale Bitcoin Trust ETF (335,154 BTC), iShares Bitcoin Trust ETF (252,011 BTC), Fidelity Wise Origin Bitcoin Fund ETF (143,743 BTC), Block.One (164,000 BTC) and MtGox (141,685 BTC), according to data from BitcoinTreasuries.
Considering the bitcoin positions of the US (207,189 BTC) and Chinese (194,000 BTC) authorities, Tether is the ninth largest bitcoin holder, according to data from BuyBitcoinWorldwide.
According to information from CoinStats, the average bitcoin purchase price was $30,305 for Tether. Unrealized profits have now reached $2.957 billion, marking an increase of 129.5%.
Data: CoinStats.
As of Dec. 31, 2023, Tether also made a purchase of 8,888 BTC, public data has revealed.
Although the company does not officially disclose its bitcoin addresses, in August, 21.co analyst Tom Wang identified an address that he estimated belonged to Tether.
Tether first disclosed its bitcoin reserves in May, and also announced its plans to regularly invest in digital gold as much as 15% of its profits.
More recently, Tether announced a strategic expansion into artificial intelligence in March 2024.
