Tether Bolsters Bitcoin Reserves; Metaplanet Follows Suit

Tether, the leading stablecoin provider, significantly expanded its Bitcoin holdings by acquiring over 8,888 BTC worth $735 million. The move strengthens Tether’s market dominance and contributes to record $4.5 billion in quarterly profits fueled by substantial U.S. Treasury reserves. This follows a similar strategy employed by Metaplanet, a Japanese firm that significantly invested in Bitcoin through strategic buy-ins and equity financing. Metaplanet’s bold approach has generated remarkable results: its stock price surged 3,000% after the company raised funds for further Bitcoin acquisitions.