Prominent crypto firm and USDT issuer Tether bolstered its exposure to Bitcoin with a $735 million acquisition on Monday.
Data from Arkham shows that the leading stablecoin issuer bought more Bitcoin yesterday. Per the on-chain analysis, Tether withdrew 8,888 BTC from Bitfinex, a crypto exchange and sister company, on Monday at precisely 20:58 (UTC).
The acquisition took its total holdings to 92,647 BTC, worth $7.7 billion at the current market price. It has also placed the stablecoin issuer among the largest holders of Bitcoin, the largest cryptocurrency by market cap.
Tether Expands Bitcoin Reserve
Tether has dominated the stablecoin industry, controlling 61% of its entire supply. For context, Tether has a market cap of nearly $144 billion, and the stablecoin sector has a valuation of $234 billion.
Meanwhile, the highly profitable stablecoin issuer has also extended its prominence among Bitcoin-holding addresses. Its Monday acquisition of 8,888 BTC reinforces its place as the sixth-largest wallet holding the crypto firstborn.
Data from Bitcoin Treasuries shows that Tether is the second-largest private firm holding Bitcoin, just below investment firm Block.one. In general, only Strategy (formerly MicroStrategy) and the top three US Bitcoin spot ETF issuers (BlackRock, Fidelity, and Grayscale) outhold the El Salvador-based USDT issuer.
Notably, Tether’s expanding Bitcoin reserve commensurates with its pledge to use a portion of its net profit to acquire the asset. The issuer committed to this course in May 2023, committing 15% of its net realized operating gains to stacking the pioneering cryptocurrency.
Its last accrual was an 8,404 BTC acquisition in December, taking its stash to 83,759 BTC at the time.
Tether Mints Fresh $1B USDT on Tron
Meanwhile, the Bitcoin acquisition coincided with bullish on-chain activity from Tether yesterday. The leading issuer minted fresh $1 billion USDT on Tron, extending its impressive numbers on the network.
Tether’s CEO, Paola Ardoino, who recently talked up bringing Bitcoin founder Satoshi Nakamoto’s bitcoins back into circulation, confirmed the transaction. He noted that it was an authorized but not issued USDT minting on the Tron network, serving as inventory for subsequent issuance requests.
PSA: 1B USDt inventory replenish on Tron Network. Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.
— Paolo Ardoino 🤖 (@paoloardoino) March 31, 2025
Interestingly, Tether has minted $8 billion USDT on the Tron network since the start of 2025 and a staggering $22 billion USDT in the past year. Nonetheless, the blockchain has a total authorized transaction of $66.7 billion, playing second fiddle to the Ethereum network’s $75.9 billion.
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