On-chain data shows that Tether currently holds a total of 83,758.57 BTC, worth $7.7 billion. Yesterday, a wallet associated with Tether received 7,628.92 BTC from a Bitfinex marked wallet, and shortly afterwards, another 775.568 BTC was sent to the same address.
Although the company has not publicly claimed ownership of the wallet, speculation suggests that the possibility is high. Tether's Bitcoin reserves last grew in March 2024, when it received 8,888.88 BTC. Prior to this, on December 31, 2023, Tether also received 8,888.88 BTC. Given the repeated use of the auspicious number 8, some speculate whether Tether will increase its holdings by 484.4 BTC in 2024, reaching the 8,888.88 mark again.
In addition to holding BTC, Tether also manages a diversified portfolio of assets, including 4.8 million CRO, 2.29 million TRX, 148.46 ETH, 440,398 USDC, and 176 BNB. Analysis believes that Tether's recent increase in BTC reserves indicates that it has taken a strategic move to enhance its BTC cache, which may be aimed at consolidating its position in the cryptocurrency market.