Tether adds 8,888 Bitcoin in Q1 as holdings exceed $8.4B
🚀 Stablecoin Supremacy: Tether Adds 8,888 Bitcoin, Worth $750M 💸
Tether, the benevolent dictators of the USDT stablecoin, have seen fit to acquire a paltry 8,888 Bitcoin in the first quarter of 2025. Because, why not? According to onchain data, this is roughly equivalent to $750 million, which is a nice little nest egg to have lying around.
Onchain transaction data shows that Tether moved its shiny new Bitcoin from a Bitfinex address to a wallet it controls, because who needs to keep their crypto in a normal bank account, anyway? Data provided by onchain analytics platform Arkham Intelligence shows that the firm currently holds a staggering 100,521 BTC, worth about $8.46 billion. Not bad for a stablecoin issuer.
This news comes hot on the heels of mid-February reports that Tether might have to sell some of its Bitcoin holdings to comply with proposed US regulations. But fear not, Tether has a robust argument against the conclusions of the JP Morgan analyst, which can be summed up as: “they understand neither Bitcoin nor Tether.” Burn.
Still, Tether argued against the conclusion of the JP Morgan analyst. A Tether spokesperson criticized the analysts in correspondence sent to CryptoMoon, saying “they understand neither Bitcoin nor Tether” and highlighting that the US stablecoin laws have yet to be finalized. Fair enough.
Tether becomes an investment powerhouse
Tether reported a whopping $13 billion of profit in 2024, leading to a significant capital reserve that the firm funneled into large-scale investment ventures. Because who needs to just hold onto their cash when you can invest it in, say, Italian media companies and football clubs?
At the end of March, Tether invested 10 million euros ($10.8 million) in Italian media company Be Water. In February, the firm acquired a majority stake in Juventus FC, a major Series A football club based in Turin, Italy, and also sought to acquire a majority stake in South American agribusiness Adecoagro. The firm’s influence is already growing as a result of those investments. Rumble, a video platform in which Tether invested $775 million in late 2024, recently announced the launch of its wallet for content creator payments with support for Tether’s USDt.
USDt keeps growing
Tether’s USDt is the world’s leading stablecoin and the third digital asset by market cap, according to CoinMarketCap data. At the time of writing, USDt’s total supply stands at just under 148 billion. That’s a lot of digital dollars.
Ignoring the minor deviations from the US dollar’s value, that supply would place the current market cap at almost $148 billion. Whale Alert data shows that on March 31, Tether minted a billion dollars worth of USDt on the Tron blockchain. Because, why not?
Bitcoin’s price has historically tended upward following upticks in USDt minting and large-scale USDt minting has usually followed significant Bitcoin price increases. David Pakman, managing partner at crypto-native investment firm CoinFund, recently said that the global stablecoin supply could surge to $1 trillion by the end of 2025, potentially becoming a key catalyst for broader cryptocurrency market growth.
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2025-04-01 14:40