Tether Surpasses Several ETFs to Become a Leading Bitcoin Accumulator

The issuer of the world’s largest stablecoin, USDT – Tether, has emerged as one of the top corporate Bitcoin (BTC) accumulators over the past 12 months. The company has added more coins to its treasury than most mid-sized spot Bitcoin ETFs.

Tether Added Over 27,700 BTC in One Year On September 8, Tether CEO Paolo Ardoino shared data showing that the company acquired more than 27,700 BTC in the past year.

Approximately 7,900 BTC was allocated directly to the reserves backing the USDT stablecoin.

Another 19,800 BTC was allocated to Twenty One Capital (XXI), a digital asset fund to which Tether contributes. Thanks to these acquisitions, Tether outpaced well-known funds such as VanEck HODL, Bitwise BITB, Ark 21Shares ARKB, and WisdomTree BTCW.

Giants Still Dominate the Market Compared to the largest players, Tether’s purchases remain modest. BlackRock’s IBIT absorbed an astonishing 394,600 BTC. Grayscale Bitcoin Trust added 44,200 BTC. Fidelity’s FBTC increased its holdings by 27,900 BTC. Even so, Tether has firmly positioned itself among the most significant corporate investors in Bitcoin.

Bitcoin as a Core Strategy Tether began its structured Bitcoin acquisitions in May 2023, committing to allocate 15% of its quarterly profits into BTC. This policy made it one of the few global corporations with a permanent strategy of channeling profits into cryptocurrencies. The company’s strategy has also faced criticism. YouTuber Clive Thompson recently claimed that Tether sold over $1 billion worth of BTC to finance a $1.6 billion gold purchase, citing changes in publicly available asset reports. Ardoino rejected these claims, clarifying that the visible drop in Bitcoin reserves was linked to transfers into the XXI fund rather than liquidations. He reiterated that Tether plans to maintain a diversified reserve strategy including Bitcoin, gold, and real estate.

Tether Now Holds Over 100,000 BTC According to the latest figures, Tether now holds a total of 100,521 BTC, valued at approximately $11.36 billion at current market prices. Data from Bitcoin Treasuries rank Tether as the third-largest corporate Bitcoin holder worldwide, just behind MicroStrategy (now rebranded as Strategy) and Block.one.

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