Tether, the issuer of the world's largest stablecoin USDT, has once again expanded its Bitcoin reserves. On April 15, 2026, on-chain data confirmed a transfer of 951 Bitcoin (approximately $70.5 million) from a Bitfinex hot wallet to Tether's dedicated reserve address. This move is part of Tether's ongoing strategy to allocate up to 15% of its quarterly net realized operating profits toward Bitcoin purchases, a policy announced in 2023.
Reserves Surpass 97,000 BTC
With this addition, Tether now holds 97,141 BTC, valued at over $7.1 billion at current prices near $74,000 per coin. This positions Tether as the second-largest publicly known corporate Bitcoin holder, trailing only MicroStrategy. The company has reported unrealized gains of approximately $2.175 billion on its Bitcoin position and has never sold from the reserve since the program began. Tether emphasizes that these holdings serve as surplus reserves and do not back the circulating USDT supply on a 1:1 basis; the bulk of its reserves remain in cash equivalents and U.S. Treasuries. CEO Paolo Ardoino has described Bitcoin and gold as assets that will outlast fiat currencies, framing the reserve as a hedge against inflation and currency devaluation.
Consistent Quarterly Purchasing Pattern Continues
While the April 15 transfer is smaller than Tether's typical quarterly purchases, it aligns with periodic mid-quarter top-ups. Key historical purchases include: January 1, 2026 – 8,888.8 BTC (~$778 million) to close Q4 2025; November 7, 2025 – 961 BTC; September 30, 2025 – 8,888 BTC (~$1 billion); and December 30, 2024 – 7,629 BTC (~$700 million). These transactions are publicly verifiable via blockchain explorers and are often executed near quarter-end dates or during price dips, providing steady institutional buying pressure on the Bitcoin market.
Tether's Bitcoin Address Ranks Fifth Globally
Tether's reserve address is the fifth-largest single Bitcoin address tracked globally, trailing some exchange wallets and government-held addresses. The company's transparent accumulation strategy has attracted attention, especially as it recently engaged KPMG for its first full independent financial audit of USDT reserves. Analysts expect Tether to continue its Bitcoin buying program through the remainder of 2026, as the company generates quarterly profits with no announced ceiling.