Tether's Bitcoin Holdings Cross $5 Billion Mark After Latest Purchase

Stablecoin issuer Tether USDT/USD purchased another $627 million worth of Bitcoins BTC/USD in the first quarter of 2024, bringing its total holdings to about 75,354 BTC — worth over $5.2 billion. This marks the first time Tether's bitcoin holdings have surpassed the $5 billion mark, coinciding with bitcoin reaching an all-time high this year and currently trading at around $69,500.

Read the full story at The Block.