Tether, the issuer of the USDT stablecoin, acquired 8888 BTC for a total value of $380 million at the end of the last quarter of 2023. The company now holds 66,465 BTC on its balance sheet, worth about $2.8 billion.
Tether has not officially disclosed its addresses where the first cryptocurrency is stored. However, in August 2023, 21.co analyst Tom Wang determined an address he believed belonged to the company. Then a source familiar with the situation confirmed The Blockthat Tether is the 11th largest Bitcoin HODLer.
Note that in May 2023, Tether announced that it would regularly invest up to 15% of its net realized profits in Bitcoin. Then the company’s CEO, Paolo Ardoino, said that the decision to invest in the first cryptocurrency was based on its strength and potential as an investment asset.
Tether made an unrealized profit of $1.1 billion from its investment in Bitcoin after its price rose above $41,000. At the time of writing, the asset is trading near $42,500.
Source: Cryptocurrency
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