Tether Boosts Bitcoin Holdings to $5.3 Billion, Expanding Crypto Investments

Tether acquired 8,889 Bitcoin (BTC) worth $627 million on March 31, 2024 to significantly increase its reserves to over 75,000 BTC now worth over $5.3 billion

Over the past year, Tether has substantially increased its Bitcoin holdings after first disclosing them in Q1 2023

Tether commits to investing up to 15% in Bitcoin from excess stablecoin reserves, citing its strength and potential as an investment asset

Bitcoin contributed $2.8 billion to Tether's consolidated reserves in Q4 2023 attestation report, showing the financial impact of its investments

Beyond Bitcoin, Tether is expanding into Bitcoin mining, AI technology, renewable energy production, and other areas to become a multifaceted digital asset investor and infrastructure developer