tl;dr
Tether, the issuer of the tether (USDT-USD) stablecoin, has augmented its holdings by approximately 8,889 bitcoins (BTC-USD) at the conclusion of Q1, as per on-chain data. Last year, the company disclosed plans to allocate up to 15% of its net realized operating profits to procure bitcoin (BTC-USD)...
Tether, the issuer of the tether (USDT-USD) stablecoin, has augmented its holdings by approximately 8,889 bitcoins (BTC-USD) at the conclusion of Q1, as per on-chain data. Last year, the company disclosed plans to allocate up to 15% of its net realized operating profits to procure bitcoin (BTC-USD), with the objective of reinforcing and broadening the reserves supporting USDT-USD. On March 31, Tether increased its bitcoin holdings by 8,888.8888 bitcoins (BTC-USD), as reported by on-chain tracker Arkham Intelligence. This influx brings Tether's total BTC holdings to 75,354 tokens, valued at approximately $5.16 billion at the current BTC price of $68.6K. Since its inception, this wallet has surged by about 126%, amassing an unrealized profit of $2.94 billion, as per CoinStats data. Notably, Tether has not formally announced this latest purchase.
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