Tether, the company behind USDT stablecoin, has acquired another $70 million worth of Bitcoin today. The acquisition comes as BTC price struggles with a downturn, hence, igniting hopes of a potential rebound.
Tether Now Holds 91,141 BTC in Reserve
According to data form Arkham Intelligence, the stablecoin issuer raked in 951 BTC from the Bitfinex exchange. This transaction was valued at roughly $70.74 million. The move aims to diversify the company’s operational assets and back its extensive stablecoin reserves.
Tether has continued buying Bitcoin for years now. The latest purchase could represent part of its first quarter BTC buying for 2026. For context, since 2023, the Tether reserve address has consistently accumulated BTC.
For this, it uses around 15% of the company’s profits. It typically withdraws the holdings from Bitfinex after each quarter ends, which is similar to the movement made today.
Per on-chain tracking crypto tools, the stablecoin firm boasts a Bitcoin reserve of 91,141 BTC, equivalent to a whopping $7.2 billion. Moreover, the organization has cemented its position as the fifth largest on-chain holder of BTC.
Bitcoin ETF Success & Strategy’s BTC Acquisition Streak
In addition, data from Farside Investors shows that Bitcoin ETFs recorded massive inflows on Tuesday, April 14. These ETFs saw a positive flow of $411 million with BlackRock’s IBIT taking charge with a $213.8 million influx.
The resurgence in BTC ETF inflows come after an outflow of $291 million on Monday. This revival could be attributed to favorable US PPI inflation data and easing geopolitical tensions as US-Iran peace talks gain momentum. Furthermore, Michael Saylor’s Strategy boosted its BTC holdings earlier this week.
On Monday, April 13, the largest Bitcoin treasury firm Strategy acquired 13,927 BTC, which was worth $1 billion. It now sits on a Bitcoin reserve stack of 780,897 BTC, as of the latest disclosure.
However, despite considerable institutional influx, BTC price has continued struggling as it dipped below $74,000 in the last 24 hours.
Source: https://coingape.com/tether-buys-another-70m-in-bitcoin-holdings-hit-7-19b/
