According to on-chain analyst Ember Monitor, on the last day of the third quarter, Tether withdrew 8,888.8 BTC ($1 billion) from Bitfinex to their BTC reserve address. This may be the BTC they bought in the second and third quarters (April-September): Tether has decided to regularly buy Bitcoin with 15% of the company's profits for reserves since its announcement in May 2023. The last time BTC was proposed was on the last day of the first quarter.
Currently their BTC reserve address holds 86,335 BTC (9.75 billion USD), making it the sixth largest BTC wallet.
Based on the price they raised from Bitfinex, the average purchase price of these BTC is around $48,542, which means that the float is now as high as $5.50 billion.
Analysis: Tether's BTC reserve address is the sixth largest BTC wallet
2025-09-30 11:54:55
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