Tether's Bitcoin Holdings Surpass $5 Billion

The stablecoin issuer's aggressive acquisition strategy bolsters its position as a major Bitcoin holder.

Tether now holds over 75,354 Bitcoin, valued at more than $5.1 billion, after purchasing 8,889 BTC in the first quarter of 2024.
The company has committed to using up to 15% of its net realized operating profits for buying Bitcoin, aiming to diversify its reserves.
Bitcoin's price has recently dipped below $69,000, following a peak that nearly reached $74,000 ahead of the cryptocurrency's halving event.
Tether has become the seventh-largest holder of Bitcoin, moving up from eleventh place earlier in the year.
Despite controversies surrounding its transparency, Tether continues to expand its influence in the crypto-economy, holding the title of the largest stablecoin issuer by market cap.