Tether purchased another 8,888 BTC in Q1 this year, approximately equivalent to 735 million US dollars
Golden Finance reports, according to on-chain analyst Yu Jing's monitoring, USDT issuer Tether purchased another 8,888 BTC ($735 million) in the first quarter of this year: The address where Tether purchases and reserves BTC withdrew 8,888 BTC from CEX on the first day after the end of the first quarter. This is the amount of BTC that Tether bought in the first quarter: Since May 2023, Tether has announced a decision to regularly use 15% of company profits to purchase Bitcoin for reserve enhancement.
Tether currently holds a total of 92,647 BTC ($7.64 billion), making it the sixth largest BTC wallet address. Their comprehensive cost for purchasing BTC is approximately $41,147 per coin with current unrealized gains reaching as high as $3.83 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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