Tether moves $780 million into BTC reserves

The issuer of the stablecoin Tether has completed its largest Bitcoin purchase in the last nine months. On December 30, 2024, the company transferred over 8,400 BTC, worth approximately $780 million, into its reserve. This increased its total Bitcoin holdings in the Tether reserve to 83,759 BTC, which is equivalent to $7.75 billion.

Historic move amid growth

The transfer of BTC into the reserve is part of Tether's strategy announced in May 2023. The company plans to allocate up to 15% of its operational profits to buy cryptocurrency. This move reflects the growing interest of major players in decentralized currencies amid the rising price of blockchain-based currencies.

On December 30, two transfers were made, totaling approximately 8,404.5 BTC (7,628.9 BTC and 775.6 BTC). At the time of the transaction, the cryptocurrency was valued at $92,500. These assets strengthen Tether's position as one of the largest private holders of Bitcoin.

Tether and other major players

According to data, Tether currently holds second place among private companies in terms of BTC assets, trailing only Block.one, the blockchain software developer. Block.one owns 140,000 BTC. In the overall ranking, Tether holds third place, only behind MicroStrategy, which owns the largest amount of crypto assets among all public and private companies — 446,400 BTC.

The issuer's decision to bolster its reserves with digital gold not only helps stabilize the company's assets but also reflects the broader market trend.