Tether Moves $780M in Bitcoin to Reserves—Its Largest Transfer Since March
Tether, the issuer of the world’s most widely used stablecoin, has made headlines again by transferring $780 million worth of Bitcoin into its corporate reserves. This marks Tether’s largest Bitcoin transaction since March, reinforcing its strategy to bolster reserves with the leading cryptocurrency.
Tether’s Recent Bitcoin Acquisition
According to Arkham Intelligence, Tether’s Bitcoin wallets received 8,404.5 BTC in two separate transfers on December 30. With Bitcoin trading at approximately $92,500, this addition raises Tether’s total holdings to 83,759 BTC, valued at nearly $7.75 billion.
Tether’s Commitment to Bitcoin Accumulation
The recent acquisition aligns with Tether’s May 2023 strategy to allocate 15% of its net realized operating profits toward Bitcoin purchases.
Earlier this year, Tether made a similar move on March 31, adding 8,888.88 BTC shortly after Bitcoin crossed the $70,000 mark.
Bitcoin’s 2024 Rally Fuels Corporate Reserves
Bitcoin’s value has more than doubled in 2024, reaching an all-time high of $108,000 in mid-December before experiencing a slight pullback.
Tether now holds the second-largest Bitcoin reserve among private companies, trailing Block.one with 140,000 BTC.
In the combined rankings of private and public firms, Tether ranks third, behind MicroStrategy, which leads with an astonishing 446,400 BTC.
JUST IN: Tether buys 7,629 #bitcoin worth $705 million for its reserves, now owns $7.7 billion in bitcoin 💥 pic.twitter.com/0K2KTjCM2Z
— Bitcoin Magazine (@BitcoinMagazine) December 30, 2024
Corporate Bitcoin Adoption on the Rise
Corporate treasuries have increasingly adopted Bitcoin as a strategic reserve asset in 2024, fueled by its price surge and growing reputation as a store of value.
Notable moves include:
- KULR Technology Group: Purchased 217.18 BTC worth $21 million on December 16, boosting its stock price by over 40%.
- Quantum BioPharma: Invested $1 million in Bitcoin and digital assets on December 20 to diversify its treasury holdings.
Tether Ventures into Web3 and Media Investments
Beyond Bitcoin accumulation, Tether made its venture capital debut by investing $2 million in Arcanum Capital’s Emerging Technologies Fund II.
This tokenized fund supports decentralized Web3 projects focused on remittances, privacy, and financial inclusion—further expanding Tether’s footprint in blockchain innovation.
Additionally, Tether invested $775 million in Rumble, a video-sharing platform recognized for its free speech ethos, demonstrating broader diversification efforts.
US States Eye Bitcoin Reserves
The institutional adoption of Bitcoin isn’t limited to corporations. US states are also exploring Bitcoin reserves as a hedge against economic uncertainty.
- Ohio: Introduced a new bill led by House Republican Derek Merrin to add Bitcoin to treasury reserves.
- Texas: Proposed the Texas Strategic Bitcoin Reserve Act in December 2024, requiring the state comptroller to hold Bitcoin reserves for five years.
- Pennsylvania: Introduced legislation in November allowing up to 10% of treasury reserves to be allocated in Bitcoin.
More Companies Strengthen Bitcoin Holdings
Several high-profile companies expanded their Bitcoin reserves in 2024:
- MARA Holdings (MARA): Acquired 11,774 BTC, announced on December 10 via X.
- Riot Platforms: Raised $500 million through a private bond offering to expand reserves and strengthen mining operations.
- Metaplanet: Increased Bitcoin holdings to diversify assets and mitigate economic risks.
Final Thoughts: Bitcoin’s Role in Corporate and State Reserves Expands
Tether’s $780 million Bitcoin transfer highlights a growing trend of crypto adoption among corporations and governments. With Bitcoin’s price rally and increasing institutional interest, the narrative around Bitcoin as a strategic asset continues to strengthen.
As corporate giants and state treasuries deepen their involvement, Bitcoin’s global adoption appears set to accelerate further, solidifying its place as a mainstream financial asset.
