Tether Acquires $1 Billion Bitcoin, Boosts Reserves to $9.8 Billion
A wallet labeled “Tether: Bitcoin Reserves” received 8,889 BTC from Bitfinex, adding approximately $1 billion to Tether's holdings. This increased their Bitcoin stash to about $9.8 billion.
Quarter-End Buying Pattern
- Tether has a pattern of making quarter-end additions to its reserves in September 2024, December 2024, and March 2025.
- This strategy appears to prepare for public attestations.
- The upcoming report in late October will reveal if recent purchases are officially recorded.
A One-Time Transfer And Wider Moves
- The transfer underscores the connection between Bitfinex and Tether.
- In June, Tether transferred $1.4 billion worth of BTC to Twenty One Capital, sparking speculation on reserve reallocation.
- CEO Paolo Ardoino affirmed Bitcoin's centrality to Tether's strategy.
US Expansion And New Stablecoin
- Tether is expanding in the US with a branch led by Bo Hines, planning a federally compliant stablecoin, USAT.
- The initiative indicates Tether's aim to strengthen its position within US regulatory frameworks.
USDT Growth And Market Role
- USDT's circulating supply rose by 10% over the past quarter, reaching approximately $175 billion.
- USDT continues to be crucial for traders and DeFi users as a dollar proxy.
Reserves And Market Signals
- Increased Bitcoin holdings and US expansion raise transparency questions regarding reserve management.
- The forthcoming report will be crucial; alignment with on-chain data could alleviate some concerns.
