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Stablecoin issuer Tether (USDT<\/a>) is now holding at least $2.82 billion of Bitcoin (BTC<\/a>) as the firm continues to scoop up the crypto king at a high rate.<\/p>\n According to Ki Young Ju, the founder and chief executive of on-chain market intelligence platform CryptoQuant, Tether is currently holding<\/a> at least 66,400 BTC.<\/p>\n \u201cTether revealed in its recently released quarterly report that it holds approximately $1.6 billion worth of Bitcoin. The amount of Bitcoin held by Tether puts it roughly 11th in terms of holdings. <\/em><\/p>\n If you look at \u2018the Tether Bitcoin holding wallet,\u2019 it doesn\u2019t match the description in Tether\u2019s quarterly report. While there were no Bitcoin holdings in [2022\u2019s] Q4 report, the wallet did start accumulating Bitcoin. So Tether has plenty of Bitcoin. But that\u2019s probably not the only Bitcoin wallet Tether has.\u201d<\/em><\/p>\n In an accompanying CryptoQuant post,<\/a> it is revealed that Tether held just $1.6 billion worth of the top crypto asset by market cap in August. At the time, that made Tether the 11th-largest entity in terms of BTC held in the world.<\/p>\n In early January, it was revealed<\/a> that a wallet believed to be owned by Tether was sitting on $1.33 worth of BTC profits, at the time pushing it to the 10th-largest entity in terms of holding Bitcoin.<\/p>\n Tether\u2019s intent to purchase the flagship digital assets was reported in November by Bloomberg, which at the time found that the stablecoin issuer was looking<\/a> to invest $500 million into the crypto king within the next six months.<\/p>\n At the time, Tether executive Paolo Ardoino said that Tether was committed to constructing BTC mining facilities in South America.<\/p>\n Bitcoin is trading for $42,474 at time of writing, a marginal decrease during the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em> v2snippetminusbitcoin]<\/p>\n Featured Image: Shutterstock\/Kit8.net\/Sensvector<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Stablecoin issuer Tether (USDT) is now holding at least $2.82 billion of Bitcoin (BTC) as the firm continues to scoop up the crypto king at a high rate. According to Ki Young Ju, the founder and chief executive of on-chain market intelligence platform CryptoQuant, Tether is currently holding at least 66,400 BTC. \u201cTether revealed in […]<\/p>\n","protected":false},"author":2,"featured_media":232085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-232084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/232084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=232084"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/232084\/revisions"}],"predecessor-version":[{"id":232087,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/232084\/revisions\/232087"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/232085"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=232084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=232084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=232084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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