PANews reported on April 1 that according to on-chain analyst Ember’s monitoring, USDT issuer Tether purchased another 8,888 BTC (US$735 million) in the first quarter of this year:
The address where Tether purchased and reserved BTC withdrew 8,888 BTC from Bitfinex on the first day of the first quarter. This is the BTC purchased by Tether 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 (US$7.64 billion), making it the sixth largest BTC wallet address. Their combined BTC purchase cost is approximately US$41,147, and their current floating profit is as high as US$3.83 billion.
