Tether increases its Bitcoin reserves to 97,141, with unrealized gains reaching 2.175 billions US dollars.
According to EmberCN monitoring, USDT issuer Tether’s BTC reserve address withdrew 951 BTC (70.47 million USD) from an exchange 15 minutes ago, likely corresponding to BTC purchased in the first quarter of this year.
The BTC stored at this address is purchased by Tether with 15% of the company’s profits since 2023, and it often withdraws the BTC purchased in the previous quarter from an exchange within a few days after each quarter ends. Its BTC reserve address holds 97,141 BTC (7.2 billion USD), making it the fifth largest BTC wallet. Calculated at the price at the time of withdrawal from the exchange, the average purchase price of these BTCs is around 51,312 USD, currently resulting in an unrealized profit of 2.175 billion USD.
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