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By Shaurya Malwa|Edited by Stephen Alpher
Updated Apr 1, 2025, 1:33 p.m. UTCPublished Apr 1, 2025, 1:32 p.m. UTC
Stablecoin issuer Tether increased its bitcoin holdings to 92,646 BTC, adding 8,888 BTC for $735 million in the first quarter of 2025.
The company is staying true to its plan to put 15% of its profits each quarter into additional bitcoin purchases. Its current bitcoin stack is worth $7.7 billion at bitcoin’s current price just above $83,000.
STORY CONTINUES BELOW
Tether’s USDT stablecoin is the world’s largest with a $143 billion market cap. The company raked in $13 billion in profits last year, mostly from interest on its vast holdings of U.S. Treasuries backing USDT.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
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