According to the information shared by online data analyst Yu Yan, the wallet address of Tether, the issuer of stablecoin USDT, withdrew 8888.88 bitcoins from the Bitfinex exchange on the last day of 2023, totaling approximately $379 million, making it the tenth largest bitcoin holding address.
Yu Yan’s statistics show that Tether currently holds a total of 66,465.2 bitcoins, with an average cost of around $25,176. Based on the current price, the floating profit is approximately $1.148 billion (a return rate of 68%).
According to previous reports, Tether, the issuer of stablecoin, disclosed its bitcoin holdings for the first quarter of 2023, stating that it would regularly invest up to 15% of its profits in bitcoin as its reserves shift towards cryptocurrencies and away from US government debt. Now it seems that this strategy has indeed yielded quite positive returns.
