Tether's Bitcoin reserve address currently holds 86,335 BTC, making it the sixth largest BTC wallet

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, USDT issuer Tether has withdrawn 8,888.8 BTC (1 billion USD) from Bitfinex to its BTC reserve address. This may be the BTC purchased in the second and third quarters: Tether announced in May 2023 that it would regularly use 15% of its company profits to buy Bitcoin for reserves, and the last BTC withdrawal was on the last day of the first quarter.

Currently, the relevant BTC reserve address holds 86,335 BTC (9.75 billion USD), making it the sixth largest BTC wallet. Based on the price at the time of withdrawal from Bitfinex, the average purchase price of these BTC is approximately 48,542 USD, with a current unrealized profit of up to 5.5 billion USD.