USDT Bitcoin Holding’s Worth $8 Billion
Arkham Intelligence’s on-chain data indicates that on December 30, 2024, Tether moved 7,629 BTC from sister exchange Bitfinex’s hot wallet to its corporate crypto reserve address.
This transfer is the biggest to the company’s strategic Bitcoin reserve since 8,888.88 BTC was transferred in March 2024, according to BitInfoCharts
Tether’s total holdings now stand at 83,758 Bitcoin, valued at about $8 billion.
The most recent development is a component of its continuous portfolio diversification strategy, announced in May 2023 as part of Tether’s attempt to generate new revenue streams.
The stablecoin operator pledged to allocate up to 15% of its net realized operating profits toward Bitcoin’s acquisition of the flagship cryptocurrency Tether has been expanding its investments beyond acquisitions into new fields like decentralized communications, AI, and Bitcoin mining.
Nonetheless, the most recent acquisition coincides with Tether’s growing apprehension regarding USDT’s legal standing in Europe.
The future of the asset on European exchanges is now uncertain due to the Markets in Crypto Assets (MiCA) regulation, which was effected on December 30, 2024.
There are concerns that USDT may be delisted from exchanges within the European Union because Tether has reportedly failed to comply with MiCA’s requirements. In addition, there was a mild decline in the stablecoin’s market valuation amid uncertainty surrounding its possible delisting under the framework
USDT’s total market value dropped from $140 billion to roughly $137 billion, according to Binance data. CEO Paolo Ardoino responded to these worries and the growing FUD by assuring the cryptocurrency community and cautioning them against being influenced by false information.
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