Tether withdrew 951 BTC — worth $70.5 million — from its Bitfinex wallet into reserves, continuing its strategy of allocating 15% of its quarterly net profits to buy Bitcoin, a strategy it has been pursuing since 2023.
Tether has just completed another Bitcoin transfer to its reserves, withdrawing 951 BTC worth approximately $70.5 million from a Bitfinex wallet, according to data from Arkham Intelligence. This move brings the total amount of Bitcoin held by the world's largest stablecoin issuer to 97,141 BTC, solidifying the company's position as the second-largest private Bitcoin holder globally, after Block One, while Strategy continues to hold the top spot among publicly listed companies, according to data from Bitcoin Treasuries.
This isn't the first time Tether has made this type of transaction. Last November, the company transferred 961 BTC, then worth approximately $97 million, via the same route from Bitfinex to its reserve wallet. This steady accumulation reflects a commitment announced in May 2023: allocating 15% of net profits each quarter to buy Bitcoin, since the company began building its Bitcoin position in September 2022.
Multi-tiered reserve strategies and the question of concentration risk.
Bitcoin currently accounts for approximately 4% of Tether 's total reserves of over $190 billion backing its USDT stablecoin, a small but significant proportion in the asset structure of an organization whose operational stability depends directly on the quality of its reserves.
Last June, Tether withdrew 14,000 BTC from its reserve wallet and transferred it to an address labeled as belonging to Twenty One Capital, demonstrating that the Bitcoin holdings are not merely passive assets but also serve broader strategic purposes within the company's ecosystem. At the time the transaction was recorded, Bitcoin was trading around $73,936, significantly lower than its all-time high set late last year.
