Tether Quietly Becomes One of Bitcoin’s Largest Corporate Whales

Tether Hits 100,521 BTC With Latest $735M Bitcoin Purchase

Tether, the issuer of USDT, has now officially become one of Bitcoin’s largest corporate holders, amassing 100,521 BTC valued at $8.44 billion after a $735 million purchase on March 31, 2025. The company acquired 8,888 BTC during its latest quarterly accumulation cycle, transferring the funds from a Bitfinex wallet to its primary holdings wallet on April 1, according to Arkham Intelligence. This purchase is part of a consistent strategy launched in September 2022, and formalized in May 2023, where Tether committed to allocating 15% of its quarterly profits toward Bitcoin acquisitions.

Bitcoin Holdings Part of Larger Diversification Strategy

Tether's wallet composition (aside from BTC) includes:

• $4.7B in USDT

• $210M in XAUT (Tether Gold)

• $47.17M in AUSDF

• $27.02M in EURT

The company’s BTC holdings alone have generated an estimated $3.86 billion in unrealized gains, even as Bitcoin faces broader market headwinds. In Q1 2025, Bitcoin fell nearly 12%, marking its worst first quarter since 2018, amid concerns over new U.S. tariffs and macroeconomic uncertainty.

Source: Arkham Intelligence

Tether Pushes Back on JP Morgan Reserve Concerns

The acquisition came shortly after JP Morgan analysts raised concerns about Tether's reserve composition, suggesting upcoming legislation might force stablecoin issuers to limit crypto exposure.

Two major U.S. bills currently under discussion are:

• STABLE Act (House)

• GENIUS Act (Senate)

Both propose stricter reserve rules, favoring liquid assets like U.S. Treasuries. JP Morgan estimated that only 66% to 83% of Tether's reserves would meet compliance under the proposed laws. Tether CEO Paolo Ardoino dismissed the criticism, attributing it to traditional banking players lacking Bitcoin exposure. The firm’s Q4 2024 attestation showed $7B+ in reserves and $13B in annual profits.

Beyond Bitcoin: Tether’s Multi-Sector Expansion

Tether’s strategy goes far beyond crypto accumulation. The company has been actively investing across multiple industries, including:

• Sports: Majority stake in Juventus FC

• Media: €10.8M investment in Italian media company Be Water

• Agriculture: Ongoing negotiations to acquire a stake in Adecoagro, a South American agribusiness

• AI and Tech: Development of tools like AI Translate, a Bitcoin voice assistant, and investment in Zengo Wallet