<a href="https://www.cryptoknowmics.com/glossary#tether-usdt-">Tether</a>, the blockchain platform and issuer of the USDT stablecoin, has reportedly reaped a substantial profit exceeding $1.1 billion from its Bitcoin holdings. The recent surge in Bitcoin's price, surpassing $41,000, played a pivotal role in Tether's impressive 85%+ profit on its BTC holdings.

According to Chinese crypto journalist Colin Wu, Tether <a href="https://tether.to/en/tether-to-further-strengthen-reserves-through-purchase-of-bitcoin-with-realized-net-operating-profits/">accumulated</a> a total of 57,576 Bitcoins, valued at $2.4 billion, at an average rate of $22,480 per coin. Notably, 53,492 Bitcoins from this total were acquired before March 2023.
<h2>Tether's Profitable Bitcoin Strategy Strengthens Reserves and Diversifies</h2>
[embed]https://twitter.com/WuBlockchain/status/1731875711403884686[/embed]

Tether's remarkable Bitcoin profits stem from its strategic decision to allocate 15% of its net profits towards regular Bitcoin purchases starting in May 2023. This move added 4,083 BTCs to Tether's portfolio. The company's Q1 2023 Assurance Report revealed approximately $1.5 billion in BTC reserves, and the new investment strategy aimed to enhance and diversify these reserves.

Tether's Chief Technology Officer, Paolo Ardoino, highlighted Bitcoin's appeal as an investment asset due to its decentralized nature, limited supply, and widespread adoption. Bitcoin's recent robust performance, currently trading at $41,821.40 with a weekly gain of 12.67%, reinforces its status as the leading cryptocurrency with a market cap of $816.76 billion.

Tether's Bitcoin Holdings Profit Tops $1B: Report

Breaking news: Tether's bitcoin holdings soar, crossing the $1 billion mark. Dive into the details of the crypto market surge. 🚀 #CryptoUpdate #BitcoinNews

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Tether's Bitcoin Holdings Profit Tops $1B: Report

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