Tether Adds $700M Worth BTC To Reserves; Microstrategy Adds Another $209 Million Worth BTC
In May 2023, Tether announced that it would start allocating as much as 15% of its profits into bitcoin and now holds over $7.6 billion in BTC. Microstrategy now owns a total of 446,400 BTC, today worth roughly $41 billion
In a latest develoment, as per data from Arkham Intelligence, the stable coin issuer Tether, has sent 7,629 BTC worth approximately $700 million to its bitcoin reserve address from Bitfinex’s hot wallet about an hour ago at 14:00 UTC.
Notably, this is the largest transaction sent to Tether’s strategic bitcoin reserve since March 2024, when it transferred 8,888.88 BTC. The firm also sent 8,888.88 BTC to the fund on the last day of 2023.
In May 2023, Tether announced that it would start allocating as much as 15% of its profits into bitcoin and now holds over $7.6 billion in BTC. This move was aimed at diversifying the company’s holdings during a year when it began printing cash. Lately, Tether has made mindful efforts to diversify its holdings and invest its capital in emerging sectors like AI, bitcoin mining and decentralized communications.
Microstrategy today announced the purchase of an additional $209 million worth of Bitcoin, its eighth consecutive weekly buy. The cloud computing firm turned “Bitcoin development” company says it paid an average price of $97,837 to acquire 2,138 BTC.
That means Microstrategy, already the world’s largest corporate holder of Bitcoin, now owns a total of 446,400 BTC, today worth roughly $41 billion
