Tether Adds 951 Bitcoin in First Quarter, Tops 97,000 BTC as Fifth-Largest Whale
Tether, the issuer of the USDT stablecoin, has invested up to 15% of its realized net operating profit each quarter in Bitcoin since 2023, seeking to diversify its reserves and build a long-term position. As the company behind the world’s largest stablecoin, Tether draws close market scrutiny over the scale of its purchases and shifts in asset allocation.
In the first quarter of 2026, Tether withdrew 951 Bitcoin worth about $70 million from crypto exchange Bitfinex. The purchase lifted its total holdings above 97,000 BTC, valued at about $7.2 billion, with unrealized gains of $2.17 billion. The position ranks as the world’s fifth-largest Bitcoin wallet.
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The history behind this eventTether Posts $1 Billion Q1 2026 Profit as Excess Reserves Hit Record $8.2 Billion
Tether issues USDT, the world’s largest U.S. dollar stablecoin, and backs redemptions primarily with highly liquid assets such as U.S. Treasuries. Its profitability and reserve levels affect crypto market liquidity and confidence, while high Treasury yields continue to bolster interest income.
Tether released its BDO-attested report for the first quarter of 2026, showing net profit of $1.04 billion. Excess reserves rose to a record $8.23 billion as of March 31, while U.S. Treasury holdings reached $141 billion. The company is also in talks for a new funding round targeting a valuation of $500 billion.
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