Tether Increases Holdings by 8888 BTC, Becoming the Sixth-Largest BTC Holding Address

BlockBeats News, April 1st, according to ChainNews, Tether once again increased its holdings by 8,888 BTC ($7.35 billion) in the first quarter of this year:

The address where Tether purchases and reserves BTC withdrew 8,888 BTC from Bitfinex on the first day after the end of the first quarter. This is the BTC purchased by Tether in the first quarter of this year. Since Tether's announcement in May 2023 to use 15% of the company's profits regularly to purchase Bitcoin to enhance its reserves.

Tether currently holds a total of 92,647 BTC ($7.64 billion), making it the 6th largest BTC wallet address. Its overall BTC acquisition cost is approximately $41,147, resulting in a current unrealized profit of $3.83 billion.