Summary
- Tether said it purchased additional Bitcoin, increasing its holdings to about $9.7 billion.
- Tether said it has consistently purchased Bitcoin and gold every quarter in recent years.
- It said USDT supply was $174.6 billion as of the end of Q2 this year, up 10.7% from the previous quarter.
Tether, the issuer of the dollar-based stablecoin USDT, has purchased additional Bitcoin (BTC).
On the 30th (local time), CoinDesk reported that an address believed to be associated with Tether received 8889BTC from a Bitfinex wallet. The address's holdings are currently estimated at about $9.7 billion, with an average price of around $113,000.
Tether has been buying Bitcoin alongside gold at the end of each quarter in recent years. In fact, similar transactions took place in September last year and in March and June of this year.
As of the end of Q2 this year, Tether's Bitcoin holdings stood at $8.9 billion, and the next quarterly report is scheduled to be released at the end of October.
Meanwhile, USDT supply reached $174.6 billion, a 10.7% increase compared to the previous quarter.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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