By CentBit.Online – Crypto & Blockchain Expert, Bangladesh
Tether, the issuer of the world’s most popular stablecoin, has made its largest Bitcoin transfer since March 2024, adding approximately 8,404.5 BTC—valued at nearly $780 million—to its corporate reserves.
According to data from Arkham Intelligence, the transfer occurred on December 30, 2024, in two separate transactions. This addition brings Tether’s total Bitcoin holdings to 83,759 BTC, valued at approximately $7.75 billion, with Bitcoin trading at around $92,500.
Tether’s Commitment to Bitcoin Accumulation
This significant move aligns with Tether’s pledge, announced in May 2023, to allocate 15% of its net realized operating profits toward Bitcoin purchases.
The last notable acquisition by Tether took place on March 31, 2024, when the company purchased 8,888.88 BTC following Bitcoin’s surge past the $70,000 mark.
With Bitcoin prices more than doubling in 2024 and reaching an all-time high of $108,000 in December, Tether continues to solidify its position as one of the largest private Bitcoin holders.
Top Bitcoin Reserves: Where Tether Stands
Tether’s current holdings place it second among private companies with the largest Bitcoin reserves, trailing only Block.one, which owns 140,000 BTC.
When factoring in both private and public companies, Tether ranks third behind industry leader MicroStrategy, which boasts a massive 446,400 BTC.
Corporate Bitcoin Treasuries Gain Momentum
The corporate embrace of Bitcoin as a treasury asset has accelerated in 2024, driven by the cryptocurrency’s remarkable performance.
- KULR Technology Group added 217.18 BTC in a $21 million purchase on December 16, boosting its stock price by over 40%.
- Quantum BioPharma invested $1 million into Bitcoin and other digital assets on December 20 to diversify its treasury holdings.
Tether has also diversified its portfolio with strategic investments, including a $2 million stake in Arcanum Capital’s Emerging Technologies Fund II, focused on Web3 and blockchain innovation.
Additionally, Tether allocated $775 million to Rumble, a video-sharing platform known for its commitment to free speech.
US States Explore Bitcoin Reserves
States like Ohio, Texas, and Pennsylvania are exploring Bitcoin as a strategic reserve asset:
- Ohio introduced a bill by Republican leader Derek Merrin to add Bitcoin to its treasury.
- Texas Representative Giovanni Capriglione proposed the Texas Strategic Bitcoin Reserve Act, mandating Bitcoin holdings for at least five years.
- Pennsylvania aims to allocate up to 10% of its balance sheet in Bitcoin for economic stability.
Bitcoin Adoption by Corporate Giants
Notable corporate Bitcoin holders have also expanded their reserves:
- MARA Holdings announced the acquisition of 11,774 BTC in December.
- Riot Platforms, a Bitcoin mining firm, plans to raise $500 million through a bond offering to bolster its reserves.
Conclusion
Tether’s strategic Bitcoin accumulation reflects the growing trend among companies and governments to leverage Bitcoin as a hedge against traditional financial uncertainties. As adoption continues to rise, Bitcoin’s role in corporate treasuries is poised for further growth.
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