Tether Adds 961 BTC, Lifts Bitcoin Reserves Above 87,000
Tether has purchased 961 BTC from a Bitfinex hot wallet at an average price of $49,121, raising its Bitcoin reserves to over 87,000 BTC, valued at roughly $8.84 billion with an unrealized profit of about $4.5 billion. This transaction continues Tether’s quarter-end strategy, initiated in 2023, to allocate 15% of profits towards diversifying its stablecoin reserves. Institutional investors view these repeat buys during price dips as a bullish signal for Bitcoin market stability. Such consistent accumulation by a major stablecoin issuer may tighten BTC supply, reinforce Bitcoin’s role as an inflation hedge and store of value, and underpin long-term upward momentum.
Bullish
Tether’s 961 BTC purchase at $49,121 follows its quarter-end profit allocation strategy begun in 2023, underscoring ongoing diversification into Bitcoin as an inflation hedge. By reducing sell-side liquidity during market downturns, the move provides short-term price support and signals institutional confidence. In the long term, consistent accumulation by a leading stablecoin issuer is likely to tighten Bitcoin’s supply, bolster demand, and sustain upward pressure on prices.