So, Tether’s got this, like, massive pile of Bitcoin profits just sitting there. $3.86 billion, can you believe it? I mean, that’s a lot of Bitcoin.
According to the crypto nerds at Spot On Chain, Tether’s got the sixth biggest Bitcoin wallet in the whole wide world. I guess they’re just hoarding the stuff, with 92,647 BTC worth $7.88 billion. That’s like, a lot of zeroes, folks.
And get this, Tether’s got a whole other pile of BTC—like 8,000 coins—just hanging out somewhere else. I don’t know, maybe in a sock drawer?
Back in May 2023, Tether was all, “Hey, let’s buy some Bitcoin with our profits,” and they went ahead and bought 8,888 BTC for $735 million. I mean, why not, right? It’s just money.
The big cheese over there, Paolo Ardoino, said Bitcoin’s like this super valuable thing that’s gonna change the world or whatever. I guess he’s got a crystal ball or something.
“Bitcoin’s the future, blah blah blah,” he probably said. “It’s gonna change everything, blah blah blah.” You know, typical CEO stuff.
Oh, and Tether issues USDT, the biggest stablecoin out there. Because, you know, they’re not just sitting on a mountain of Bitcoin profits. They’re also into the whole stablecoin thing.
By the way, BTC is trading at $85,111 right now. It’s up a bit, down a bit. You know, the usual crypto rollercoaster.
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2025-04-02 15:02