Tether Amasses Over 97,000 BTC in Latest Accumulation Move

Tether, the issuer of the world's largest stablecoin USDT, has made another move in its Bitcoin accumulation strategy. According to blockchain data, 951 BTC was transferred from Bitfinex to a wallet labeled 'Tether: BTC Reserve' on Wednesday.

The address matches one previously confirmed by CEO Paolo Ardoino as the destination for the company's earlier purchases. The latest purchase brings Tether's total Bitcoin holdings above 97,000, worth approximately $7.16 billion at current prices.

This move is part of a policy introduced in 2023 to allocate up to 15% of realized operating profits into Bitcoin. Unlike digital asset treasuries that raise capital to buy crypto, Tether uses excess earnings generated by its core business.