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Tether, the issuer of the tether (USDT-USD) stablecoin, added about 8,889 bitcoins (BTC-USD) to its holdings at the end of Q1, on-chain data showed.
The company said last year it will use up to 15% of its net realized operating profits to buy bitcoin (BTC-USD) n an effort “strengthen and diversify” the reserves that back (USDT-USD).
On March 31, Tether added 8,888.8888 bitcoins (BTC-USD), according to on-chain tracker Arkham Intelligence. That brings its total BTC stash to 75,354 tokens worth ~$5.16B at BTC’s current price of $68.6K.
That wallet is up some 126% since inception, with an unrealized profit of $2.94B, according to CoinStats data. Tether itself did not make an announcement of the latest purchase.
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