Key Highlights
- Tether transferred 951 BTC ($70.47 million) from Bitfinex to its reserve wallet in April 2026.
- Its total Bitcoin holdings now stand at 97,141 BTC (approx. $7.2 billion), making it one of the largest BTC holders.
- The firm has been accumulating Bitcoin since 2023, using about 15% of its profits, with an estimated $2.175 billion unrealized profit.
As an analyst tracking cryptocurrency movements, I noticed a significant transaction on Wednesday. Tether, the company behind the USDT stablecoin, transferred 951 Bitcoin – roughly $70.47 million worth – from the Bitfinex exchange to its own Bitcoin reserve. This indicates they’re bolstering their reserves with Bitcoin.
The company typically makes this transfer as part of its ongoing strategy to purchase Bitcoin with company profits and hold it for the long term, rather than actively trading it.
The company now holds 97,141 Bitcoin in reserve, currently worth about $7.2 billion. This places it among the largest Bitcoin holders globally, ranking around fifth place.
Tether’s long-term Bitcoin purchase strategy
Tether routinely converts some of its profits into Bitcoin. After each three-month financial period, it transfers this Bitcoin from the Bitfinex exchange to a secure reserve wallet, usually a few days after the end of the quarter. The most recent transfer is thought to be the beginning of a larger Bitcoin accumulation planned for the first quarter of 2026.
Looking at the blockchain data, the average price paid for the Bitcoin in the reserve wallet is about $51,312 per coin. This means the holdings currently have an estimated unrealized profit of around $2.175 billion.
Growing activity in wider Bitcoin market
Tether recently took a new step as activity in the Bitcoin market has been rising. On April 14th, Bitcoin ETFs saw $411 million in investments. Sosovalue data shows that BlackRock’s IBIT fund led the way with $213.8 million, while Ark & 21Shares brought in $113 million. This followed a day earlier where $291 million had been withdrawn.
On April 13th, Strategy, a significant corporate investor in Bitcoin, purchased an additional $1 billion worth of BTC – specifically 13,927 coins. This brings their total Bitcoin holdings to 780,897.
Bitcoin has increased by roughly 4% over the past week and is currently valued at $74,332, giving it a market capitalization of $1.48 trillion, as reported by CoinMarketCap.
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2026-04-15 22:29