Tether, the well-known issuer of the USDT stablecoin, acquired 8,888 BTC for a total of $735 million in the first quarter of 2025. This was part of the company’s strategy to strengthen its reserves. Experts from the Spot On Chain platform reported on this deal.
This is reported by Finway
In May 2023, Tether announced its intention to invest up to 15% of its quarterly profits in Bitcoin. The purchases of BTC are made gradually throughout the quarter, with final transactions closing at the end of the period. The average price of one Bitcoin during this transaction was approximately $82,695.
Bitcoin Market Status
Despite active investments, the first quarter of 2025 proved to be unsuccessful for Bitcoin and Ethereum, which closed the period with a decline of 11.8%. At the time of preparing this material, the Bitcoin exchange rate was $84,380, according to data from Binance.
Tether’s Portfolio
According to Spot On Chain estimates, Tether controls 92,647 BTC worth approximately $7.8 billion, with an unrealized profit from this portfolio amounting to $3.67 billion as of March 31, 2025. Meanwhile, another platform, Arkham Intelligence, reports that Tether controls 100,521 BTC, valued at $8.45 billion, with an unrealized profit of $1.2 billion.
According to Tether’s CEO Paolo Ardoino, Bitcoin, gold, and fiat constitute the reserves that ensure the stability of USDT.