Tether Becomes Bitcoin’s Top 6 Whale as Stablecoin Acquires Massive Cryptocurrency Holdings

Cryptocurrency stablecoin issuer Tether has become the sixth-largest holder of Bitcoin, acquiring over $735 million worth of BTC during Q1 2025. This purchase, according to crypto analytics firm SpotOnChain, follows a buy-the-dip strategy and brings Tether’s total Bitcoin holdings to over 92,647 BTC, valued at around $7.64 billion. This significant investment adds Tether to a growing list of companies with large Bitcoin balances in a single wallet, joining the ranks of Binance, Bitfinex, Robinhood, and even those involved with the recent hacked funds case.