Advertisement
Singapore markets close in 4 hours 9 minutes

  • Straits Times Index

    3,294.40
    +12.35 (+0.38%)
     

  • Nikkei

    38,342.87
    +408.11 (+1.08%)
     

  • Hang Seng

    17,782.30
    +35.39 (+0.20%)
     

  • FTSE 100

    8,147.03
    +7.20 (+0.09%)
     

  • Bitcoin USD

    62,955.66
    -677.18 (-1.06%)
     

  • CMC Crypto 200

    1,324.72
    -26.76 (-1.98%)
     

  • S&P 500

    5,116.17
    +16.21 (+0.32%)
     

  • Dow

    38,386.09
    +146.43 (+0.38%)
     

  • Nasdaq

    15,983.08
    +55.18 (+0.35%)
     

  • Gold

    2,336.70
    -21.00 (-0.89%)
     

  • Crude Oil

    82.46
    -0.17 (-0.21%)
     

  • 10-Yr Bond

    4.6140
    -0.0550 (-1.18%)
     

  • FTSE Bursa Malaysia

    1,579.46
    -3.20 (-0.20%)
     

  • Jakarta Composite Index

    7,237.55
    +81.76 (+1.14%)
     

  • PSE Index

    6,767.43
    -2.21 (-0.03%)
     

Tether Added Nearly 8.9K Bitcoin to Holdings in First Quarter: On-Chain Data

Stephen Alpher
·1-min read

Tether, the issuer of USDT, the world's largest stablecoin based on market cap, added just shy of 8,889 bitcoin {{BTC}} in the first quarter, according to on-chain trackers such as Arkham Intelligence.

Though Tether made no official announcement of the action, a wallet believed to belong to the company shows as having 8,888.8888 bitcoin moved to it on March 31. Tether, of course, has made no secret of its intention to use a portion of its profits to acquire bitcoin.

That wallet is now the holder of 75,354 bitcoins worth about $5.2 billion at BTC's current price of $69,000, putting Tether's profit at roughly $3 billion.

Read more: Tether's USDT Stablecoin Touches $100B Market Cap, Benefiting From Crypto Trading Frenzy