According to TechFlow TechFlow, on April 16th, on-chain analyst EmberCN reported that Tether, the issuer of USDT, recently withdrew 951 BTC from Bitfinex, worth approximately $70.47 million. This was purchased with 15% of the company's profits in the first quarter of this year. Currently, Tether's BTC reserve address holds a total of 97,141 BTC, worth approximately $7.2 billion, making it the fifth largest BTC wallet globally. Based on the price at the time of withdrawal, the average purchase cost is estimated at approximately $51,312, resulting in a current unrealized profit of approximately $2.175 billion.
Tether's BTC reserve address recently withdrew 951 BTC from Bitfinex, worth approximately $70.47 million.
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