Stablecoin issuer Tether increased its bitcoin holdings to 92,646 BTC, adding 8,888 BTC for $735 million in the first quarter of 2025.
The company is staying true to its plan to put 15% of its profits each quarter into additional bitcoin purchases. Its current bitcoin stack is worth $7.7 billion at bitcoin’s current price just above $83,000.
Tether’s USDT stablecoin is the world’s largest with a $143 billion market cap. The company raked in $13 billion in profits last year, mostly from interest on its vast holdings of U.S. Treasuries backing USDT.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Another $113 million exited on Thursday, putting the fund on track for a sixth week…
Bitcoin’s early week rally unraveled as sharp ETF outflows, aggressive derivatives deleveraging and muted altcoin…
Regulators in Washington on Thursday cleared a major step that lets Americans trade spot Bitcoin…
Bitcoin is again trading under the shadow of a potential yen carry-trade shock as markets…
The one-month chart shows BTC still locked inside a descending structure from early November’s highs,…
On-chain analytics firm Glassnode has pointed out how the current Bitcoin market is reminiscent to…