Tether adds 9,850 Bitcoin to reserves over the past month

Tether adds 9,850 Bitcoin to reserves over the past month

Tether's wallet now holds approximately 87,300 BTC worth around $8.7 billion.

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by Vivian Nguyen | Powered by Gloria

Tether, the issuer of the USDT stablecoin, has added 9,850 Bitcoin to its reserve since late September, according to Arkham Intelligence data.

The company has been transferring Bitcoin from Bitfinex to its official reserve addresses to strengthen the backing of its stablecoin operations. On November 6, over $97 million was transferred from Bitfinex’s wallet to Tether’s Bitcoin reserve wallet.

The move follows Tether’s ongoing approach to using Bitcoin reserves to hedge against market fluctuations while supporting its stablecoin infrastructure. The company’s reserve strategy involves building Bitcoin holdings during periods of market opportunity.

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Tether adds 9,850 Bitcoin to reserves over the past month

Tether adds 9,850 Bitcoin to reserves over the past month

Tether's wallet now holds approximately 87,300 BTC worth around $8.7 billion.

by Vivian Nguyen | Powered by Gloria

Share

Add us on Google

Tether, the issuer of the USDT stablecoin, has added 9,850 Bitcoin to its reserve since late September, according to Arkham Intelligence data.

The company has been transferring Bitcoin from Bitfinex to its official reserve addresses to strengthen the backing of its stablecoin operations. On November 6, over $97 million was transferred from Bitfinex’s wallet to Tether’s Bitcoin reserve wallet.

The move follows Tether’s ongoing approach to using Bitcoin reserves to hedge against market fluctuations while supporting its stablecoin infrastructure. The company’s reserve strategy involves building Bitcoin holdings during periods of market opportunity.