Summary
- Tether has reportedly secured an additional $700 million worth of Bitcoin.
- Tether has stated that it allocates up to 15% of its profits to purchasing and stockpiling Bitcoin.
- It is known that Tether's Bitcoin holdings amount to $7.6 billion.
The issuer of the stablecoin Tether (USDT) has secured an additional amount of Bitcoin (BTC) worth over 1 trillion KRW.
According to The Block on the 30th (local time), Tether transferred 7,629 Bitcoins to its Bitcoin holding account through on-chain data. The Bitcoins transferred by Tether this time are valued at $700 million (approximately 1 trillion KRW).
It has been nine months since Tether last transferred hundreds of millions of dollars worth of Bitcoin in March. At that time, Tether transferred 8,888.88 Bitcoins to its account.
Since May 2023, Tether has been allocating up to 15% of its profits to purchasing and stockpiling Bitcoin. It is known that Tether currently holds Bitcoin worth $7.6 billion (approximately 11.2 trillion KRW).
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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