{"id":34260,"date":"2024-12-31T13:00:14","date_gmt":"2024-12-31T10:00:14","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=34260"},"modified":"2024-12-31T11:44:31","modified_gmt":"2024-12-31T08:44:31","slug":"tether-strengthens-bitcoin-reserves-with-7629-btc","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/tether-strengthens-bitcoin-reserves-with-7629-btc\/","title":{"rendered":"Tether Strengthens Bitcoin Reserves with 7,629 BTC"},"content":{"rendered":"<p><strong>Tether<\/strong> continues to expand its <strong>Bitcoin<\/strong> investments. The company significantly increased its Bitcoin reserves by purchasing <em><strong>7,629 BTC<\/strong><\/em> worth a total of <strong>$705.25 million<\/strong> from the cryptocurrency exchange <strong>Bitfinex<\/strong>.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/tether-strengthens-bitcoin-reserves-with-7629-btc\/#First_Movement_in_Bitcoin_Reserves_After_Nine_Months\" title=\"First Movement in Bitcoin Reserves After Nine Months\">First Movement in Bitcoin Reserves After Nine Months<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/tether-strengthens-bitcoin-reserves-with-7629-btc\/#Strategic_Investments_and_Diversification_Goals\" title=\"Strategic Investments and Diversification Goals\">Strategic Investments and Diversification Goals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/tether-strengthens-bitcoin-reserves-with-7629-btc\/#Robust_Reserves_with_Bonds_Gold_and_Bitcoin\" title=\"Robust Reserves with Bonds, Gold, and Bitcoin\">Robust Reserves with Bonds, Gold, and Bitcoin<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"First_Movement_in_Bitcoin_Reserves_After_Nine_Months\"><\/span>First Movement in Bitcoin Reserves After Nine Months<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This transaction marked the first activity in Tether\u2019s Bitcoin wallet after a nine-month hiatus. With the purchase, the company\u2019s total Bitcoin reserves reached <strong>82,983 BTC<\/strong>, valued at approximately <strong>$7.68 billion<\/strong>. The average acquisition cost per Bitcoin is calculated at <strong>$36,125<\/strong>. Additionally, this investment has provided Tether with an unrealized gain of <strong>$4.72 billion<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Strategic_Investments_and_Diversification_Goals\"><\/span>Strategic Investments and Diversification Goals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In line with a strategy announced in <em><strong>May 2023<\/strong><\/em>, Tether decided to allocate <em><strong>15%<\/strong><\/em> of its profits to Bitcoin investments. This move has positioned the company as the sixth-largest holder of Bitcoin. Tether views its Bitcoin investments not only as a store of value but also as part of a diversification strategy aimed at emerging sectors such as artificial intelligence, Bitcoin mining, and decentralized communication.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Robust_Reserves_with_Bonds_Gold_and_Bitcoin\"><\/span>Robust Reserves with Bonds, Gold, and Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In addition to Bitcoin, Tether holds <strong>$100 billion<\/strong> worth of <em><strong>bonds<\/strong><\/em> and <strong>48.3 tons<\/strong> of <em><strong>gold<\/strong><\/em>. The company\u2019s total profit for <em><strong>2024<\/strong><\/em> is projected to exceed <em><strong>$7.7 billion<\/strong><\/em>. With these figures, Tether has surpassed countries like <strong>Germany<\/strong> and the <strong>United Arab Emirates<\/strong> in bond investments, ranking among the world\u2019s largest bondholders.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether continues to expand its Bitcoin investments. The company significantly increased its Bitcoin reserves by purchasing 7,629 BTC worth a total of $705.25 million from the cryptocurrency exchange Bitfinex. First Movement in Bitcoin Reserves After Nine Months This transaction marked the first activity in Tether\u2019s Bitcoin wallet after a nine-month hiatus. With the purchase, the<\/p>\n","protected":false},"author":6,"featured_media":34261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,1844,10358,118],"class_list":["post-34260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitfinex","tag-reserve","tag-tether"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether Strengthens Bitcoin Reserves with 7,629 BTC - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/tether-strengthens-bitcoin-reserves-with-7629-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether Strengthens Bitcoin Reserves with 7,629 BTC - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Tether continues to expand its Bitcoin investments. The company significantly increased its Bitcoin reserves by purchasing 7,629 BTC worth a total of $705.25 million from the cryptocurrency exchange Bitfinex. First Movement in Bitcoin Reserves After Nine Months This transaction marked the first activity in Tether\u2019s Bitcoin wallet after a nine-month hiatus. 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