Tether purchased 8,888 Bitcoin in the first quarter of 2025 for approximately $735 million

Tether bought 8,888 bitcoin in Q1, bringing its total holdings to $7.8 billion — the sixth largest in a single wallet

Tether, the company behind the stablecoin USDT, purchased 8,888 Bitcoin (BTC) in the first quarter of 2025, bringing its total holdings to 92,646 Bitcoin, currently valued at approximately $8 billion, according to Bitcoin data aggregator Glassnode.

The transaction, which occurred on April 1 and was spotted by blockchain analytics firm Arkham Intelligence, saw Tether move the newly acquired Bitcoin into its main reserve wallet at the end of each quarter.

This brings Tether's wallet into the top six largest known Bitcoin wallets, Arkham data shows.

Tether began buying Bitcoin in September 2022 as part of a strategy to allocate up to 15% of its quarterly net income to the flagship cryptocurrency. The company says the move supports a long-term diversification strategy.

At current prices, the holdings represent about $3.86 billion in unrealized gains.

Bitcoin price declined nearly 12% in Q1 2025, marking its worst first-quarter performance since 2018, as macroeconomic uncertainty and shifting investor sentiment impacted the cryptocurrency market.

Teather reported $13 billion in net income for 2024, which was largely driven by interest from U.S. Treasuries and gains on digital assets like Bitcoin and gold.

The company is also expanding into Bitcoin mining, energy infrastructure, and artificial intelligence.