What to know:
- Tether, in a move that can only be described as “let’s throw money at the wall and see what sticks,” purchased 8,888 bitcoin for a staggering $735 million in the first quarter of 2025. Because why not?
- The company now holds over 92,647 BTC, which is valued at approximately $7.8 billion. That’s billion with a “B,” folks! š°
In a plot twist that even Hollywood couldn’t script, stablecoin issuer Tether has increased its bitcoin holdings to 92,646 BTC. They added 8,888 BTC for $735 million in the first quarter of 2025. Clearly, they believe in the power of lucky numbers and questionable financial decisions.
Sticking to their plan like a cat to a sunbeam, the company is putting 15% of its profits each quarter into more bitcoin purchases. Their current bitcoin stack is worth $7.7 billion, which is just above $83,000 per bitcoin. I mean, who needs a savings account when you can gamble on digital coins?
Tether’s USDT stablecoin is the world’s largest, boasting a market cap of $143 billion. They raked in $13 billion in profits last year, mostly from interest on their vast holdings of U.S. Treasuries backing USDT. So, if you ever wondered where all the money goes, it seems to be in Tether’s wallet, laughing at the rest of us. š
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2025-04-01 16:52