• April 23, 2024

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Tether’s Bitcoin Reserves Reach $5.23 Billion

ByLouis Adams

Apr 2, 2024 #Bitcoin
Reading time: < 1 minute

USDT’s issuance company, Tether, has acquired a considerable amount of Bitcoin, reaching 8,888 BTC or $618 million on March 31. This brought their total Bitcoin reserves to 75,354 BTC, valued at $5.23 billion.

This increase in holdings moved Tether to seventh place among private and public companies with a 0.359% share of the total supply.

The only companies with larger Bitcoin holdings are MicroStrategy (214,246 BTC), Grayscale Bitcoin Trust ETF (335,154 BTC), iShares Bitcoin Trust ETF (252,011 BTC), Fidelity Wise Origin Bitcoin Fund ETF (143,743 BTC), Block.One (164,000 BTC), MtGox (141,685 BTC), US authorities (207,189 BTC) and China (194,000 BTC).

According to CoinStats, the average acquisition price per coin was $30,305, resulting in unrealized profits of $2.957 billion, a 129.5% increase.