Tether Scoops Up Nearly 9,000 Bitcoins in Q1, Amassing Over $5 Billion in Holdings
- Tether added nearly 8,889 bitcoins to its holdings in Q1 2022 based on on-chain data
- The bitcoins were moved to a wallet believed to belong to Tether on March 31
- Tether has stated it intends to use some profits to acquire bitcoin
- The wallet now holds over 75,354 bitcoins worth about $5.2 billion
- This bitcoin acquisition has generated around $3 billion in profit for Tether
