Tether Boosts Bitcoin Reserves to Over 97,000 BTC

Tether, a leading stablecoin issuer, has made another significant investment in Bitcoin, adding $70 million worth of the cryptocurrency to its reserves. According to data from blockchain tracking firm Arkham Intelligence, 951 BTC was transferred from Bitfinex to a wallet labeled 'Tether: BTC Reserve', bringing Tether's total holdings above 97,000 BTC.

The latest purchase is part of Tether's ongoing policy to allocate up to 15% of its realized operating profits into Bitcoin. Unlike other firms that raise capital to build crypto treasuries, Tether uses excess earnings from its core stablecoin business to accumulate BTC.

Tether's reserves remain heavily weighted towards cash-like instruments, with over $141 billion in U.S. government debt exposure. However, the company has been diversifying beyond Treasuries, with around $17.4 billion in gold holdings.