Leading stablecoin issuer Tether appears to have acquired another 8,888 Bitcoin (BTC), worth approximately $1 billion. On-chain analytics platform Onchain Lens confirmed the purchase in an X post earlier today.
Tether Continues To Stack Bitcoin
Tether, the issuer of the top USD-pegged stablecoin USDT, today purchased another 8,888 BTC, increasing its total Bitcoin reserves to new highs. Onchain Lens said that Tether acquired it on the last day of Q3, 2025.
Following the Bitcoin purchase, Tether CEO Paolo Ardoino confirmed the acquisition in an X post, saying, “yeah.” With today’s purchase, Tether’s total holdings now stand at almost 10,940 BTC.
Tether’s total BTC holdings have propelled it to second position among private companies with the most BTC reserves. The list is currently led by Block One, which currently holds 164,000 BTC, worth roughly $18.5 billion.
In the overall list, including public companies, Tether is now ranked third, behind Strategy, which leads the list by far, holding 640,031 BTC on its balance sheet, according to data from Coingecko.
It should be noted that this is not the first time that Tether has acquired such a huge amount of BTC. The company purchased a similar amount of BTC and transferred it to its wallet at the end of Q1, 2025.
To recall, Tether started buying BTC as part of its reserves back in September 2022. Subsequently, in May 2023, the firm announced that it would allocate up to 15% of its net profits each quarter to purchase more BTC.
Since announcing its BTC buying strategy, Tether has consistently enhanced its BTC reserves as part of its long-term diversification strategy. It is worth noting that Tether-backed Bitcoin treasury firm Twenty One also holds around 43,514 BTC currently.
Tether’s Bitcoin reserve wallet address, starting with “bc1qj” is also among the top ten single address holders of BTC. The wallet trails several centralized exchange cold wallets, such as those of Binance.
The Rush For Accumulating BTC
Tether’s move to accumulate BTC is not an isolated incident. An increasing number of firms have been actively purchasing BTC over the last few years, seeing the digital asset’s extraordinary price appreciation in a relatively short period.
For instance, Strategy recently added to its already high amount of BTC holdings, purchasing 196 BTC. Similarly, Cyprus-based ship-owning firm Robin Energy recently made its first BTC acquisition, as it bought the flagship cryptocurrency worth $5 million.
The trend of companies buying BTC in large amounts is likely to dry up the asset’s active circulating supply, as confirmed in a recent report by Fidelity. This could put further upside price pressure on BTC. At press time, BTC trades at $113,219, down 0.4% in the past 24 hours.
Featured image from Unsplash.com, chart from TradingView.com
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