Tether has transferred approximately $780 million worth of Bitcoin into its corporate reserve — the largest transaction since March. According to Arkham Intelligence, Tether’s Bitcoin wallets received two distinct transfers on December 30, totaling 8,404.5 BTC.
This addition, valued at nearly $7.75 billion with Bitcoin trading at around $92,500, brings Tether’s total BTC holdings to 83,759. This move is in alignment with Tether’s previous announcement to allocate up to 15% of its net realized operating profits towards purchasing Bitcoin, made in May 2023.
The last significant increase in Tether’s Bitcoin reserve occurred on March 31, when the company acquired 8,888.88 BTC shortly after Bitcoin surpassed $70,000. While Bitcoin reached an all-time high of $108,000 in mid-December, it has since experienced some declines.
Tether now holds the second-largest Bitcoin reserve among private companies, lagging behind only Block.one which owns 140,000 BTC. When considering both private and public companies, Tether ranks third, with software giant MicroStrategy leading with an impressive 446,400 BTC.
