Overview
- Tether, which moved 951 BTC on Wednesday from a Bitfinex hot wallet to a treasury-labeled address, added about $70.5 million to its bitcoin reserve.
- The reserve now holds about 97,141 BTC worth roughly $7.2 billion, a stash that on some rankings would trail only MicroStrategy if Tether were public.
- The buy follows a 2023 policy that allocates up to 15% of net realized operating profits to bitcoin each quarter, a setup that links purchase size to USDT use and pulls coins off exchanges into long-term custody.
- Most USDT backing still sits in U.S. Treasury securities, with recent disclosures also showing $17.4 billion in gold and $6.3 billion in excess reserves.
- A day later the company announced tether.wallet, a self-custody app with human-readable addresses and fee payment in the sent asset that supports USDT, bitcoin, and tokenized gold.