“Tether’s Wild BTC Acquisition: Was It a Genius Move or a Crypto Joke? 🤔”
Ah, dear reader! What a curious tale this is, as strange as a banker’s appetite for risk. Tether, that great financial wizard of stablecoins, has taken it upon itself to scoop up precisely 8,888 bitcoins—for $735 million, no less—in the first quarter of 2025. No, this isn’t some April Fools’ prank; their accountants were dead serious (or at least trying very hard to look so). 💰
What’s remarkable, or perhaps ironic, is the backdrop against which this purchase took place. Bitcoin, poor fellow, staggered ungracefully through Q1 like a drunkard at a wedding, suffering a 12% slump. Indeed, this was its worst performance in seven years. Yet, Tether gazed upon this mess and said, “Let’s buy more!”—a motto that surely deserves to be engraved on coinage someday. 🥂
USDT issuer #Tether acquired 8,888 $BTC ($735M) in Q1 2025!
In May 2023, Tether announced plans to allocate 15% of its profits each quarter to #Bitcoin purchases for its reserves, with BTC acquired gradually throughout the quarter and settled at the end.
Currently, Tether’s…
— Spot On Chain (@spotonchain) April 1, 2025
All told, Tether now babysits a grand total of 92,647 BTC, roughly worth $7.64 billion. That, for the numerically inclined, has placed it sixth among the biggest hoarders of digital golden eggs—though one wonders if this is truly the kind of achievement one should boast about at dinner parties. 🍷
Meanwhile, Bitcoin has managed to lift itself ever so slightly out of its stupor, currently hovering at $83,112, up by a reluctant 1.94%. As volatility dances merrily around, Tether seems determined to play the long game, clutching its bitcoins as if they were heirlooms passed down by some eccentric uncle. 🕺
And yet, the comedy doesn’t stop with Bitcoin acquisitions. Tether has also been busy printing more USDTs—over 1 billion minted on TronDAO within just one day. Some might say this is efficiency; others might call it wizardry. Either way, Tether now proudly commands over $8 billion on the Tron platform.
Of course, competition looms. Ripple’s RLUSD has entered the stablecoin circus, and Circle has expanded its operations, but Tether still sits smugly atop the heap, uncrowned but unmistakably the ringmaster. 👑
So, what’s next for Tether? Will they buy another eccentric amount of Bitcoin or perhaps mint USDT into the trillions on a Tuesday just for sport? At this rate, they might start issuing stablecoins engraved on snowflakes—no two alike but equally valuable. Stay tuned, dear reader. The absurdity is only just beginning! 🎭
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2025-04-01 09:26