Tether, the company behind the world’s largest stablecoin (USDT), has made a big move in 2025. In the first quarter, they bought 8,888 bitcoins, worth around $735 million. This brings their total bitcoin stash to 92,646 BTC, which is worth about $7.8 billion at current prices. With this purchase, Tether now holds the sixth-largest bitcoin wallet in the world.
Tether’s Big Bitcoin Bet
So, why should you care about this? Well, Tether has been on a mission to diversify its reserves since 2022. Each quarter, they’ve been increasing their bitcoin holdings, and this latest purchase is just part of that strategy. Tether first announced in May 2023 that they would allocate 15% of their profits to buy more bitcoin. And guess what? They’ve stuck to that plan, quarter after quarter.
How Much Are They Up?
Even with bitcoin’s price dropping about 12% in Q1 2025, Tether’s bitcoin holdings have been incredibly profitable. Right now, they’re sitting on roughly $3.86 billion in unrealized gains. That’s a lot of profit, especially considering bitcoin’s price has been struggling lately. At the moment, one bitcoin is trading at about $84,000.
Tether’s Bigger Picture
But Tether isn’t just about bitcoin. They’ve been branching out, too. Aside from stacking more bitcoin, they’re also investing in bitcoin mining, energy production, and even AI. This move shows Tether is thinking long-term, and they’re looking beyond just being the largest stablecoin issuer.
Financial Strength in 2024
In 2024, Tether made a massive profit of $13 billion, mostly thanks to interest from their U.S. Treasury holdings and unrealized gains from bitcoin and gold. This makes them one of the most profitable companies in crypto right now.
What’s Next?
Tether has faced some criticism over the years for not having full audits of its reserves, but that might be changing soon. They’ve recently hired a new CFO and are in talks with a Big Four accounting firm (think Deloitte, PwC, EY, or KPMG) to get a full audit. The CEO, Paolo Ardoino, says this is a “top priority.”
Tether’s moves are all about securing its future in the crypto world. By stacking up bitcoin, diversifying its investments, and pushing for better transparency, Tether is proving it’s not just a stablecoin issuer — it’s building something bigger.
So, what does this mean for you? Well, Tether’s actions show the growing confidence in bitcoin and how even stablecoin companies are placing big bets on crypto’s long-term potential. This could be a sign of things to come, where traditional finance and crypto continue to merge in powerful ways.
