Key Takeaways
- Tether transferred 7,629 BTC worth $700 million to its reserve.
- The firm has allocated over $7.6 billion into Bitcoin reserves.
- Tether reinvests up to 15% of profits into Bitcoin and emerging sectors.
Tether, issuer of the USDT stablecoin, transferred 7,629 BTC (approximately $700 million) from Bitfinex’s hot wallet to its strategic Bitcoin reserve on December 30, 2024, at 14:00 UTC.
This marks the largest transfer to the reserve since March, when 8,888.88 BTC were added.
The onchain data, tracked by Arkham Intelligence, shows this as part of Tether’s ongoing allocation of up to 15% of its profits into Bitcoin, a policy introduced in May 2023. Tether’s total Bitcoin reserves now exceed 82,000 BTC, valued at over $7.6 billion.
Diversification of holdings
Tether primarily backs USDT with U.S. Treasury bonds and cash equivalents, but the company has diversified into emerging sectors like AI, Bitcoin mining, and decentralized communications.
CEO Paolo Ardoino has stated that these moves are part of a broader effort to reinvest record profits, including $5.2 billion earned in the first half of 2024.
Transparency updates pending
This latest transaction is not yet reflected on Tether’s transparency page, last updated earlier the same day.
