Tether Adds $735 Million to Bitcoin Reserves with Latest Acquisition

Tether, the issuer of the world’s leading stablecoin USDT, has just made a significant investment in Bitcoin, purchasing 8,888 BTC worth approximately $735 million. This latest acquisition was reported by Arkham and involved withdrawing Bitcoin from Bitfinex, Tether’s sister company. This adds to Tether’s growing Bitcoin holdings, now reaching 92,647 BTC, valued at around $7.7 billion. The move solidifies Tether’s position as one of the largest institutional Bitcoin holders.