According to the information shared by online data analyst Yu Yan, the wallet address of Tether, the issuer of the 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.
According to Yu Yan’s statistics, Tether currently holds a total of 66,465.2 bitcoins with an average cost of approximately $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 the stablecoin, disclosed its bitcoin holdings for the first quarter of 2023. The company stated at that time that as its reserves shift towards cryptocurrencies and away from US government debt, it will regularly invest up to 15% of its profits in bitcoin. It seems that this strategy has indeed received considerable positive returns.
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