USDT issuer Tether added nearly 8.9K Bitcoin (BTC) to its holdings in the first quarter: on-chain data

According to on-chain trackers such as Arkham Intelligence, Tether, the issuer of USDT, the world's largest stablecoin by market capitalization, added almost 8,889 Bitcoin (BTC) in the first quarter.

Although Tether did not officially announce the action, a wallet believed to belong to the company shows that 8,888.8888 Bitcoins were transferred to it on March 31. Tether has, of course, made no secret of its intention to use some of its profits to acquire Bitcoin.

This wallet now houses 75,354 Bitcoins worth about $5.2 billion at the current BTC price of $69,000, putting Tether's profit at about $3 billion.

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