Tether, the issuer of the world's largest stablecoin USDT, has purchased 8,888 Bitcoin (BTC) in the first quarter of 2025 from Bitfinex, valued at approximately $735 million. This acquisition increases Tether's total Bitcoin holdings to 100,521 BTC, now worth about $8.29 billion. The company's strategy of consistently buying Bitcoin since May 2023, when it announced it would allocate 15% of its quarterly profits to Bitcoin, has positioned its wallet among the top six largest globally. Tether's Bitcoin portfolio, with an average entry price of $41,060, now sits on an unrealized profit of $3.86 billion. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
