Tether purchased another 8,888 BTC in Q1, worth $735 million

04-01

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PANews reported on April 1st that according to on-chain analyst Yu Jin's monitoring, Tether, the USDT issuer, purchased 8,888 BTC ($735 million) in the first quarter of this year:

Tether's BTC purchase and reserve address withdrew 8,888 BTC from Bitfinex on the first day after the first quarter ended. This is the BTC Tether purchased in the first quarter of this year: Tether announced in May 2023 that it would regularly use 15% of the company's profits to purchase Bitcoin to enhance its reserves.

Tether currently holds a total of 92,647 BTC ($7.64 billion), ranking as the 6th largest BTC wallet address. Their average BTC purchase cost is approximately $41,147, with an unrealized gain of $3.83 billion.

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