Crypto:
30601
Bitcoin:
$58.521
% 1.08
BTC Dominance:
%53.3
% 0.09
Market Cap:
$2.13 T
% 0.20
Fear & Greed:
25 / 100
Bitcoin:
$ 58.521
BTC Dominance:
% 53.3
Market Cap:
$2.13 T

Tether Increases Bitcoin Holdings

Tether

In the first quarter, Tether, which launched USDT, the world’s largest stablecoin by market capitalization, increased its holdings by about 8,889 Bitcoin (BTC), according to on-chain data from sources such as Arkham Intelligence. Although there has been no official statement from Tether regarding the move, a wallet believed to be owned by the company showed that exactly 8,888.8888 Bitcoins were transferred on March 31. Tether has maintained its clear stance of continuing to keep a portion of its earnings on Bitcoin purchases.

However, stablecoin leader Tether increased its Bitcoin holdings in the first quarter of 2024. With its increased Bitcoin holdings, Tether made a profit of close to 3 billion dollars and increased the number of Bitcoins to 8.8889 Bitcoins.

As of now, Tether‘s wallet holds 75,354 bitcoins worth approximately $5.2 billion at the current price of $69,000 per BTC. This puts Tether’s profits at around $3 billion.

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