Tether Discloses 150,000 Bitcoin Holdings Worth $11.5 Billion
Uk Jin
Summary
- Tether said in a reserves report that it holds about 150,000 Bitcoin worth about $11.5 billion.
- Tether said it bought an additional 1,130 Bitcoin in the third quarter of this year and had previously stated that it would use as much as 15% of its operating profit for Bitcoin purchases starting in 2023.
- As of the end of September, Tether's reserve assets stood at $191.45 billion, liabilities were $183.5 billion, and excess reserves totaled $7.95 billion.
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Tether, the issuer of the world's largest stablecoin, USDT, has disclosed its Bitcoin holdings.
According to a reserves report released by Tether on Nov. 3 and cited by CryptoProwl, the company holds about 150,000 Bitcoin. At current market prices, that stake is worth about $11.5 billion.
Tether bought an additional 1,130 Bitcoin in the third quarter of this year. It had previously said it would use as much as 15% of its operating profit to buy Bitcoin starting in 2023.
As of the end of September, Tether's reserve assets totaled $191.45 billion, while liabilities stood at $183.5 billion. Excess reserves, or reserves above liabilities, increased to $7.95 billion from $4.11 billion at the end of June.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.