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Tether acquires 8,888 bitcoins, raising holdings to $7.8b
Tether acquired 8,888 bitcoin for US$735 million in Q1 2025, raising its total bitcoin holdings to 92,646 BTC, valued at about US$7.8 billion.
The company has been accumulating bitcoin each quarter since September 2022, transferring its purchases to a reserve wallet.
Tether has allocated 15% of its quarterly net profits to this strategy, making it the sixth-largest bitcoin holder in a single wallet.
Despite a nearly 12% drop in bitcoin prices in Q1 2025, the cryptocurrency is still valued at around US$84,000, giving Tether unrealized gains of about US$3.86 billion on its bitcoin reserves.
Recent Tether developments
| Timeline |
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24-Mar-2025 🔍 Tether seeks Big Four audit to boost transparency
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04-Mar-2025 💼 Tether appoints new CFO as audit plans progress
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03-Feb-2025 💰 Tether reports $13b profit in 2024
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03-Jan-2025 📉 Tether’s market cap drops amid new EU crypto rules
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02-Dec-2024 🚀 XRP overtakes tether, becomes third-largest crypto
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