Key Takeaways
- Tether added 8,888 Bitcoin in Q1 2025, bringing its total to 100,521 BTC.
- Regulatory concerns may require Tether to adjust reserve assets, including Bitcoin.
- Tether's USDt supply nears 148 billion, with $1B minted on March 31.
Tether, the issuer of USDt, added 8,888 Bitcoin in the first quarter of 2025, bringing its total Bitcoin holdings to 100,521 BTC, according to onchain analytics firm Arkham Intelligence.
At the current market value of around $85,000 per Bitcoin, Tether’s holdings are worth approximately $8.46 billion.
Regulatory concerns
The Bitcoin was moved from a Bitfinex address to a wallet controlled by Tether.
The acquisition came amid concerns that upcoming U.S. regulations could force Tether to divest from assets such as Bitcoin.
A February report from JPMorgan suggested that proposed stablecoin laws could deem Bitcoin a non-compliant asset in reserves, prompting potential asset reallocation.
JPMorgan’s analysis
JPMorgan wrote:
Under the proposed bills, Tether would have to implicitly replace its non-compliant assets with compliant assets.
A Tether spokesperson rejected that conclusion, stating that the analysts “understand neither Bitcoin nor Tether,” and emphasized that U.S. regulations are still pending finalization.
Tether’s financial performance
In 2024, Tether reported $13 billion in profits and has since expanded into large investments, including a €10 million investment in Italian media company Be Water and a majority stake acquisition in Juventus FC.
USDt’s market position
USDt remains the dominant stablecoin with a supply of nearly 148 billion.
On March 31, Tether minted $1 billion in USDt on the Tron blockchain, a move that has historically preceded upward momentum in Bitcoin’s price.
