Tether bought 8,888 bitcoin in Q1, bringing its total holdings to $7.8 billion — the sixth largest in a single wallet
Quick Take Tether acquired 8,888 BTC (worth about $735 million) in Q1 2025, following its reserve strategy. The company is now the sixth-largest holder of bitcoin in a single wallet.
Stablecoin issuer Tether purchased an additional 8,888 bitcoin in the first quarter of 2025 for about $735 million, bringing its total holdings to 92,646 BTC, worth roughly $7.8 billion at current prices.
The transaction was recorded on April 1, consistent with Tether's pattern of accumulating bitcoin throughout each quarter and moving it to its reserve wallet at the end of the quarter. With this latest addition, Tether now has the sixth-largest amount of bitcoin in a single wallet.
Tether began acquiring bitcoin in September 2022. In May 2023, it officially announced that it would allocate 15% of its net profits each quarter toward bitcoin purchases. Since then, the company has consistently increased its reserves each quarter as part of its long-term diversification strategy.
At current prices, Tether is sitting on about $3.86 billion in unrealized gains from its bitcoin holdings.
The bitcoin price declined nearly 12% in Q1 2025, marking its worst first-quarter performance since 2018. The decline has largely been attributed to macroeconomic uncertainty and shifting market sentiment. Bitcoin is currently trading at around $84,000, according to The Block's Bitcoin price page .
Tether's other investments
Tether remains one of the most profitable companies in the crypto sector. According to its latest attestation report, the company recorded $13 billion in net profit for 2024, largely driven by interest income from U.S. Treasury holdings, along with unrealized gains from assets like bitcoin and gold.
Beyond its bitcoin accumulation, Tether has also been expanding into new areas like bitcoin mining , energy production and AI , signaling a broader strategy beyond just issuing USDT.
USDT remains the world's largest stablecoin, with a total supply of about 145 billion tokens, according to The Block's Data Dashboard .
Tether has long faced criticism for not conducting full financial audits of its stablecoin reserves, relying instead on quarterly attestation reports. Last month, the company hired Simon McWilliams as its new chief financial officer to lead efforts toward securing a full audit. Tether is currently in talks with a Big Four accounting firm — Deloitte, EY, PwC or KPMG — to carry out the full audit, a move CEO Paolo Ardoino has called a "top priority."
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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