Important takeaways
- Tether has increased its Bitcoin reserve by 9,850 Bitcoin in the last month.
- On Thursday, over $97 million in Bitcoin was sent to Tether’s reserve wallet.
Tether, the issuer of the USDT stablecoin, has added 9,850 Bitcoin to its reserve since the end of September, according to Arkham Intelligence data.
The company has transferred Bitcoin from Bitfinex to its official reserve addresses to bolster support for its stablecoin business. On November 6, over $97 million was transferred from the Bitfinex wallet to Tether’s Bitcoin reserve wallet.
The move follows Tether’s ongoing approach of using Bitcoin reserves to hedge against market fluctuations while supporting its stablecoin infrastructure. The company’s reserve strategy involves building Bitcoin holdings during periods of market opportunity.
