Holding more than 83,000 coins! Tether adds 7,629 BTC again

Tether, the issuer of the world's largest stablecoin USDT, has once again increased its BTC holdings. According to on-chain data tracked by Arkham Intelligence, Tether deposited 7,629 BTC (worth about 700 million US dollars) into its strategic reserve account last night (30th).

This is Tether's largest BTC Reserve operation since March 2024. At that time, Tether bought a total of 8,888.88 BTC, and before that, at the end of the fourth quarter of 2023, it also increased its holdings by a comparable 8,888 BTC.

In 2023, Tether stated that in order to diversify the reserve assets of USDT, the company will allocate 15% of net profit for quarterly BTC investments.

Tether now holds a total of 83,750 BTC, worth more than 7.76 billion US dollars, becoming a key part of its asset portfolio.

Tether's core Stable Coin USDT is mainly backed by US Treasury bonds and other cash-equivalent assets, which not only provide stability but also generate returns. In recent years, Tether has been committed to diversifying asset allocation, investing funds in emerging fields such as artificial intelligence (AI), BTC mining, and decentralized communication, demonstrating keen market insights.

Tether's net profit in the first half of this year was $5.2 billion, with a business net profit of $1.3 billion in the second quarter alone, both setting new records.

With a coin holding of over 83,000! Tether adds 7,629 BTC again. This article was first published on "Blocklike".