Tether, the issuer of the USDT stablecoin, has executed another significant Bitcoin transaction, transferring 951 BTC valued at approximately $70.5 million from a Bitfinex-linked wallet to its own reserve addresses. This move is part of the company's long-term, disciplined strategy to accumulate Bitcoin for its reserves.
According to data from Arkham Intelligence, this latest transfer brings Tether's total Bitcoin holdings to 97,141 BTC, with a current market value of roughly $7.2 billion. This positions Tether as one of the largest corporate holders of Bitcoin globally. Among private companies, it trails only Block.one, which holds approximately 164,000 BTC, and ranks ahead of other notable institutions like Stone Ridge Holdings Group, SpaceX, and the Tezos Foundation.
The transaction aligns with Tether's established pattern of periodic Bitcoin acquisitions. The company formalized its accumulation strategy in 2022, committing to allocate 15% of its quarterly net profits to purchasing Bitcoin. This consistent, measured approach avoids large-scale market entries that could disrupt prices, instead focusing on steady, long-term growth of its reserve assets.
Bitcoin currently accounts for about four percent of the assets backing the USDT stablecoin. Tether's strategy demonstrates a broader effort to diversify its balance sheet beyond traditional reserves. The company is now approaching the symbolic milestone of holding 100,000 BTC in its treasury.
While focused on accumulation, Tether has also shown flexibility in managing its holdings. For example, in June of last year, it moved 14,000 BTC to an address associated with Twenty One Capital, indicating that reserve adjustments remain part of its broader treasury operations.
