Tether, the company behind the world’s largest stablecoin USDT , added another $70 million worth of bitcoin to its reserves, extending a steady accumulation strategy tied to its stablecoin business.
Blockchain data from Arkham Intelligence shows 951 BTC moved Wednesday from Bitfinex to a wallet labeled “Tether: BTC Reserve.” The address matches one previously confirmed by CEO Paolo Ardoino as the destination for the company’s earlier purchases.
The firm did not respond to a request for comment about the purchase.
The wallet now holds 97,141 BTC, worth about $7.16 billion at current prices, placing Tether among the largest bitcoin holders globally. If Tether was a public company, it would be the second largest BTC holder behind Strategy (MSTR), according to bitcointreasuries.net ranking.
The latest purchase is part of a policy introduced in 2023 to allocate up to 15% of realized operating profits into bitcoin. Unlike digital asset treasuries that raise capital to buy crypto, Tether uses excess earnings generated by its core business.
USDT, Tether’s dollar-pegged token, is the largest stablecoin with a market cap around $185 billion. The company reported more than $10 billion in net profit for 2025, driven by growth in USDT and rising income from U.S. Treasury holdings.
Tether’s reserves are primarily made up of cash-like assets, with up to $141 billion in exposure to U.S. government debt. It also reported $6.3 billion in excess reserves against $186.5 billion in liabilities, offering a buffer above issued tokens.
Alongside U.S. Treasuries, Tether has been building positions in alternative assets. Its latest report also showed $17.4 billion in gold, highlighting a broader diversification strategy.