Tether Moves $780M in Bitcoin to its Reserve

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Tether has recently moved around $780 million worth of Bitcoin into its corporate Bitcoin reserve, marking its largest move since March.

Data from Arkham Intelligence shows that wallets linked to Tether’s Bitcoin reserve received separate transfers of approximately 7,628.9 BTC and 775.6 BTC on December 30th, amounting to a total of nearly 8,404.5 BTC.

At the time of the transfers, Bitcoin was trading at around $92,500, making the latest additions worth a total of $777.4 million. This brings Tether’s current Bitcoin holdings to 83,759 BTC, valued at just under $7.75 billion.

In May 2023, Tether announced its plans to regularly allocate up to 15% of its net realized operating profits towards purchasing Bitcoin.

This latest move is the company’s first significant Bitcoin addition since March 31st when it acquired about 8,888 BTC, shortly after the cryptocurrency hit an all-time high of over $70,000.