Tether Now Holds $2.8 Billion Worth of Bitcoin

Stablecoin issuer Tether purchased another $380 million worth of Bitcoin at the end of the last quarter, increasing its total holdings to 66,465 BTC. Tether started buying Bitcoin in September 2022, initially acquiring 33,980 BTC. Since then, the company has continued its quarterly purchases of Bitcoin. The second-largest purchase occurred in March 2023, involving 15,915 BTC. According to blockchain data, Tether's latest purchase at the end of the fourth quarter of 2023 involved 8,888 BTC, making it the third-largest purchase by Tether to date.