Tether recently sent 7,629 BTC, valued at roughly 700 million USD, to its Bitcoin reserve. This marks its most significant transfer since sending 8,888.88 BTC in March 2024. The transaction underlines Tether’s continued strategy in allocating profits into Bitcoin holdings.
Since May 2023, Tether has dedicated up to 15% of its profits to Bitcoin investments. Currently, Tether holds over 82,000 BTC, valued at over 7.6 billion USD. In the first half of 2024, Tether reported an impressive profit of 5.2 billion USD, indicating a positive trend in its financial strategy.