Tether, the issuer of USDT, has added more Bitcoin to its reserves. On-chain data shows its treasury address withdrew 951 BTC from Bitfinex, worth approximately $70.47 million.
According to on-chain analyst EmberCN, this is likely Tether's quarterly purchase using net profits from Q1 2026. Since 2023, Tether has allocated 15% of net profits to buy Bitcoin, typically transferring the accumulated coins from Bitfinex shortly after each quarter ends.
Holdings Surpass 97K BTC, Ranking Fifth Globally
After this transfer, Tether's Bitcoin reserve address now holds 97,141 BTC, valued at roughly $7.2 billion. This makes it the fifth-largest Bitcoin wallet address in the world. Based on an average purchase price of about $51,312 per coin, Tether's Bitcoin holdings have generated an unrealized profit of approximately $2.175 billion.
Tether's consistent accumulation underscores its strategy of diversifying corporate profits into decentralized assets. Since announcing the plan, the stablecoin issuer has built a nearly 100,000 BTC position, establishing itself as one of the most active institutional buyers in the crypto market.